Research Update: Yuanta Commercial Bank Ratings Affirmed Following Acquisition Announcement Oct 09
- ID: 1858477
- October 2009
- Standard & Poors
Yuanta Commercial Bank acquired part of the assets and liabilities of Chinfon Commercial Bank through government auction. We are affirming the ratings on Yuanta Bank as we believe the impact of the acquisition will be absorbable. The outlook on the ratings is stable. On Oct. 28, 2009, Standard and Poor's affirmed its 'BBB' long-term counterparty credit ratings and 'A-2' short term ratings on Yuanta Commercial Bank. The ratings affirmation reflects our view that the acquisition of part of the assets and liabilities of Chinfon Commercial Bank (not rated) will not have a significant impact on the financial profile of Yuanta Commercial Bank as well as the Yuanta Financial Holding Co. (Yuanta FHC) group. The acquired book is about 4% of...
Companies mentioned in this report are: Yuanta Commercial Bank,Taiwan (Unsolicited Ratings),Yuanta Securities Co. Ltd.,Yuanta Financial Holdings Co. Ltd.
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.
Product Type: Research Update
Research updates complement media releases. They offer more depth and detail than summary analyses by incorporating all information published in the media release. They are more up to date than summaries in that they are published simultaneously with media releases.
SHOW LESS READ MORE >