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Research Update: Taiwan Shin Kong Commercial Bank 'BBB/A-2' Ratings Affirmed On Revised Criteria; Outlook Stable Dec 11 Product Image

Research Update: Taiwan Shin Kong Commercial Bank 'BBB/A-2' Ratings Affirmed On Revised Criteria; Outlook Stable Dec 11

  • ID: 2031192
  • December 2011
  • Region: Taiwan
  • Standard & Poors

Abstract
Following a review under Standard & Poor's revised bank criteria (published on Nov. 9, 2011), we have affirmed our 'BBB/A-2' counterparty credit ratings on Shin Kong Bank. The outlook on the long-term rating is stable. At the same time, we affirmed our 'cnA/cnA-2' Greater China credit scale ratings. The stand-alone credit profile (SACP) of Shin Kong Bank is 'bb+'. This reflects the bank's 'bbb' anchor and our view of its moderate business position, adequate capital and earnings, moderate risk position, average funding, and adequate liquidity. The ratings also reflect the implicit support from Shin Kong Bank's parent, Shin Kong FHC, due to the bank's core group status. The stable outlook reflects our view that Shin Kong Bank will remain the...

Companies mentioned in this report are:
- Shin Kong Life Insurance Co. Ltd.
- Taiwan Shin Kong Commercial Bank Co. Ltd.
- Shin Kong Financial Holding Co. Ltd.

Action: Affirmed
Action: Outlook: Stable

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- Shin Kong Life Insurance Co. Ltd.
- Taiwan Shin Kong Commercial Bank Co. Ltd.
- Shin Kong Financial Holding Co. Ltd.

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