Taiwan
Ratings Corporation Undertakes Portfolio Review
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Mei Chiang
Tony Tsai
Chris Irwin |
Taiwan Ratings Corporation
announced today that it is performing a comprehensive portfolio review
of its financial institution and corporate ratings, incorporating the
results of its seven years' rating history in Taiwan, its multi-year rating
transition study, and recent structural, economic, and regulatory changes
in Taiwan's financial and corporate sectors. The purpose of the review
is to further enhance TRC's ratings as predictors of default probability
in the Taiwan market. Taiwan Ratings is the leading provider of credit
ratings to the Taiwan market, with 147 public ratings covering 65 banks
and other financial institutions, 11 insurance companies, 34 corporations,
27 bond funds, 9 structured finance transactions, and 1 REIT.
Christopher Irwin, Taiwan Ratings' Chief Rating Officer and acting CEO
said: "This exercise demonstrates Taiwan Ratings' and its partner Standard
& Poor's thoroughness and long coverage in Taiwan, as well as our recognition
of the evolving nature of regulatory and financial conditions in local
markets."
Taiwan
Ratings expects to release the results of the review before the end of
the year.
Analytic services provided by Taiwan Ratings Corporation (TRC) are the result of separate activities designed to preserve the independence and objectivity of ratings opinions. The credit ratings and observations contained herein are solely statements of opinion and not statements of fact or recommendations to purchase, hold, or sell any securities or make any other investment decisions. Accordingly, any user of the information contained herein should not rely on any credit rating or other opinion contained herein in making any investment decision. Ratings are based on information received by TRC. TRC has established policies and procedures to maintain the confidentiality of non-public information received during the ratings process.
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