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

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

  • ID: 1858205
  • July 2010
  • Standard & Poors

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

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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SinoPac Holdings

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