Ratings On CDIB Capital Group Ratings Then Withdrawn At The Client#s Request

Stocks and Financial Services Press Releases Friday April 21, 2017 18:17
TAIPEI--21 Apr--S&P Global Ratings

TAIPEI (S&P Global Ratings) April 21, 2017--S&P Global Ratings said today that it had affirmed its 'BBB' long-term and 'A-2' short-term counterparty credit ratings on CDIB Capital Group (formerly known as China Development Industrial Bank). At the same time, we affirmed our 'cnA/cnA-2' Greater China regional scale ratings on the company. We subsequently withdrew the ratings at the request of the company. Prior to withdrawal, the outlook on the long-term counterparty credit rating on CDIB Capital Group was stable.

The ratings on CDIB Capital Group reflected our assessment of the entity as a core subsidiary of Taiwan-based China Development Financial Holding Corp. (CDFHC) group, because its business operation forms an integral part of the group. CDIB Capital Group's well-established network in the investment markets of Taiwan and greater China also intertwine with the group's commercial banking business. We therefore equalized the long-term counterparty credit rating with the CDFHC group's 'bbb' consolidated group credit profile.


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