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Research Update: Yuanta Commercial Bank Ratings Affirmed Following Acquisition Announcement Oct 09 Product Image

Research Update: Yuanta Commercial Bank Ratings Affirmed Following Acquisition Announcement Oct 09

  • ID: 1858477
  • October 2009
  • Standard & Poors

Abstract
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: Affirmed
Action: Outlook: Stable

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Yuanta Commercial Bank,Taiwan (Unsolicited Ratings),Yuanta Securities Co. Ltd.,Yuanta Financial Holdings Co. Ltd.

Note: Product cover images may vary from those shown
Note: Product cover images may vary from those shown

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