Land Bank of Taiwan’s Ratings Affirmed with a Stable Outlook
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Summary
Ref: TW0 11 20 CRA00-01 23 March 2021
Land Bank of Taiwan’s Ratings Affirmed with a Stable Outlook
Capital Intelligence Ratings (CI Ratings or CI) today announced that it has affirmed the L ong- T erm Foreign Currency Rating (LT FCR ) and S hort- T erm F oreign C urrency R ating (ST FCR) of Land Bank of Taiwan (LBOT) at ‘A’ and ‘A1’, respectively. At the same time, CI Ratings has affirmed LBOT ’s Bank Standalone Rating (BSR) of ‘bbb’ , Core Financial Strength (CFS) rating of ‘bbb-’ and Extraordinary Support Level (ESL) of Very High . The Outlook for the LT FCR and BSR is Stable.
The Bank’s LT FCR is set three notches above the BSR to reflect the very high likelihood of extraordinary support g iven LBOT’s government ownership and our internal assessment of the sovereign ’s creditworthiness .
LBOT’s BSR is derived from a CFS rating of ‘bbb-’ and an O perating Environment…