Research Update: Hsinchu International Bank Co. Ltd. Assigned 'A/A-1' Ratings; Outlook Stable Jun 07
- ID: 1856531
- June 2007
- Region: Global
- Standard & Poors
On June 21, 2007, Standard & Poor's Ratings Services assigned its 'A' long-term and 'A-1' short-term counterparty credit ratings to Hsinchu International Bank Co. Ltd. (Hsinchu Bank). The outlook on the long-term rating is stable. The ratings on Hsinchu Bank reflect strong support from the company's new parent, Standard Chartered Bank (SCB; A+/Stable/A-1), and the expectation that SCB's global resources will strengthen the bank's business profile and financial profile. These strengths are tempered by Hsinchu Bank's modest operating performance and highly competitive industry conditions in Taiwan. SCB acquired Hsinchu Bank through a tender offer in October 2006. Hsinchu Bank holds a strategically important role supporting SCB's northeast Asia strategy. The acquisition of Hsinchu Bank will allow SCB to pursue growth...
Companies mentioned in this report are:
- Standard Chartered Bank (Taiwan) Ltd.
- Standard Chartered Bank
Action: New Rating
Action: Outlook: Stable
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Product Type: Research Update
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