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BULLETIN: SinoPac Holdings, Bank SinoPac Ratings Not Affected By Board Changes May 05
Standard & Poors, May 2005
Abstract
HONG KONG (Standard & Poor's) May 11, 2005--Standard & Poor's Ratings Services said today that its ratings on SinoPac Holdings (BB+/Stable/B) and Bank SinoPac (BBB-/Stable/A-3) would not be immediately affected by changes in the composition of the holding company's board of directors on May 10, 2005. Nevertheless, there is a possibility that the new board may result in a change in the group's strategic direction regarding its merger and acquisition plans, which are a key rating factor for the group as it seeks to grow in a highly competitive environment. The board changes effectively give control to Ho Shou-chuan, chairman of International Bank of Taipei (IBT), and his supporters. SinoPac Holdings' new board composition heightens the possibility of a merger...
Companies mentioned in this report are: SinoPac Holdings,Bank SinoPac
Action: Bulletin
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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