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Bank SinoPac 'BBB-'/'A-3' Ratings Affirmed; Outlook Stable Sep 04
Standard & Poors, Sep 2004
Abstract
HONG KONG (Standard & Poor's) Sept. 6, 2004--Standard & Poor's Ratings services said today that it had affirmed its 'BBB-' long-term counterparty credit rating and 'A-3' short-term credit rating on Bank SinoPac of Taiwan. The outlook on the long-term credit rating is stable. The ratings reflect Bank SinoPac's adequate financial profile, prudent risk controls, and satisfactory position in certain niche products. Counterbalancing factors include the bank's still-small market share and Taiwan's highly competitive banking environment. Bank SinoPac has consistently improved its business profile in recent years. The bank's share of the domestic banking system's assets increased to 1.9% as at June 2004 from 1.1% in 2000. As a result of ongoing product innovation and infrastructure enhancement, Bank SinoPac has established...
Companies mentioned in this report are: Bank SinoPac,SinoPac Securities Corp.,SinoPac Holdings
Action: Affirmed
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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