Taiwan Cooperative Bank’s Ratings Affirmed w ith a Stable Outlook
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Ref: TW0 16 20 CRA00- 0 1 23 March 2021
Taiwan Cooperative Bank’s Ratings Affirmed w ith a Stable Outlook
Capital Intelligence Ratings (CI Ratings or CI) today announced that it has affirmed the Long- T erm Foreign Currency Rating ( LT FCR ) and Short-Term Foreign Currency Rating ( ST FCR ) of Taiwan Cooperative Bank (TCB) at ‘A-’ and ‘A2’, respectively . TCB ’s B ank S tandalone R ating (BSR) of ‘bbb’, C ore F inancial S trength (CFS) rating of ‘bbb-’ and E xtraordinary S upport L evel (ESL) of High have also been affirmed. The Outlook for the LT FCR and BSR is Stable.
The Bank’s LT FCR is set two notches above the BSR to reflect the high likelihoo d of extraordinary support from the government. The High ESL is underpinned by the Bank’s size and its systemic importance, along with the government’s moderate , but stable , shareholding in the holding…