Fitch ups IBT to positive

Fitch Ratings said it affirmed IBT Securities Co., Ltd.'s national long-term rating at BBB+(twn) and national short-term rating at F2(twn).

The outlook was revised to positive from stable.

The outlook revision was driven by the stronger support from its parent, Industrial Bank of Taiwan, and its reasonably sound stand-alone credit profile throughout the financial crisis, Fitch said.

The agency said it believes that IBT Securities' support-driven long-term rating has upward potential due to the parent bank's integration with its stronger unit, China Bills Finance Corp.

The ratings also reflect the bank's improved credit profile, evidenced by its better operating profitability and greater product diversity than those of its similar-sized peers, Fitch added.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.