Outlook On SinoPac Holdings And Core Subsidiary Revised To Stable On Earnings Recovery; Ratings Affirmed Jul 10

Standard & Poors, July 2010

Abstract
The profitability of Taiwan-based SinoPac group is likely to gradually recover, given manageable credit costs. The group's satisfactory capitalization should enable it to absorb further losses from its U.S. operations. We revised the outlook on the ratings on SinoPac Holdings and Bank SinoPac to stable from negative. We affirmed the SinoPac Holdings 'BBB-/A-3' ratings and Bank SinoPac 'BBB/A-2' ratings. TAIPEI (Standard & Poor's) July 28, 2010--Standard & Poor's Ratings Services said today it had revised its outlook on SinoPac Holdings to stable from negative, and affirmed the 'BBB-' long-term and 'A-3' short-term counterparty credit ratings on the company. At the same time, Standard & Poor's revised the outlook on SinoPac Holdings' core subsidiary, Bank SinoPac, to stable from negative. It...

Companies mentioned in this report are: SinoPac Holdings
Action: Affirmed
Action: Outlook: Stable

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Research type: News
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SinoPac Holdings

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