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Bank SinoPac 'BBB/A-2' Ratings Affirmed On Adequate Capitalization; Outlook Stable Aug 07
Standard & Poors, Aug 2007
Abstract
HONG KONG (Standard & Poor's) Aug. 7, 2007--Standard & Poor's Ratings Services said today that it had affirmed its 'BBB' long-term and 'A-2' short-term counterparty credit ratings on Bank SinoPac. The outlook on the long-term rating is stable. At the same time, Standard & Poor's affirmed its 'C+' bank fundamental strength rating on the bank. 'The ratings reflect Bank SinoPac's adequate asset quality, adequate capitalization, and prudent risk controls,' said Standard & Poor's credit analyst Judy Kwok-Cheung. 'Counterbalancing factors include the bank's small size by international standards.' Bank SinoPac is a core subsidiary of SinoPac Holdings (BBB-/Stable/A-3). The bank merged with International Bank of Taipei (IBT), another subsidiary of the SinoPac group, in November 2006. Bank SinoPac is the surviving...
Companies mentioned in this report are: Bank SinoPac,SinoPac Holdings
Action: Affirmed
Action: Outlook: Stable
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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