Research Update: Taiwan Shin Kong Commercial Bank 'BBB/A-2' Ratings Affirmed On Revised Criteria; Outlook Stable Dec 11
- ID: 2189993
- December 2011
- Region: Taiwan
- Standard & Poors
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: 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 >