Standard
& Poor's To Acquire Majority of TRC
Taiwan Ratings Corporation
(TRC) confirmed today that Standard & Poor's is in discussion with TRC's
local shareholders to acquire a majority interest in the company.
Vickie Tillman, Executive Vice President of Standard & Poor's, together
with Standard & Poor's representatives on the TRC Board of Directors,
visited Chairman Nai-jen Wu of Taiwan Stock Exchange on the morning of
Nov. 15th and confirmed that the foreign shareholders of TRC will acquire
an additional 1% shareholding percentage from the local shareholders of
TRC, hence making Standard and Poor's the majority shareholder of TRC,
with a shareholding percentage of 51%.
Chris
Irwin, the Acting President of TRC pointed out that the adjustment of
shareholding structure will be beneficial to TRC's business development
in the future, and facilitate the introduction of new products and rating
technology.
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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