Reuters logo
5 months ago
惠誉调升高雄银行评等至‘AA-(twn)’;展望稳定
March 9, 2017 / 8:15 AM / 5 months ago

惠誉调升高雄银行评等至‘AA-(twn)’;展望稳定

(The following statement was released by the rating agency) TAIPEI, March 09 (Fitch) 惠誉国际信用评等公司今日将高雄银行(高银)长期国内评等由‘A+(twn)’调升至‘AA-(twn)’,并确认国内短期评等‘F1+(twn)’。评等展望稳定。详细 评等结果列示于本新闻稿末。 评等理由 国内评等 评等调升反映透过握有高银45%控制股权之最大股东高雄市政府(高市府)提供高银所需支援的台湾政府其财务体质有所提升(详见惠誉于2016年十月发布之新闻稿<a href=" here">惠誉将台湾的主权评等上调至'AA-',展望稳定)。政府提供支 援的意愿维持强健此乃基于高雄市为台湾第二大直辖市与高银和高市府之间紧密的关联性;包含高市府长期作为高银最大股东、高市府对高银董事会和管理阶层的有效管控权,以及高 银作为高市府代理市库的重要角色并承办高市府各项任务的政策性功能等因素。高银国内评等调升系反映因政府支援能力增强使其信用状况随之提升,可与国内高评等’AA-(tw n)的民营银行相当。该行国内评等同时表彰因政府股东提供所需支援的可能性极高,相较于国内同业其发生违约的可能性非常低。 评等的稳定展望反映惠誉认为高银与高市府在短中期内的关联性将持续紧密,有鉴于该行重要的长期政策性角色以及高市府将维持对高银最大控制股权的承诺。 高银2016年的资产报酬率维持低于0.3%,主因其低利政策性贷款规模较大与营运成本偏高所致。惠誉预期该行的资本将仅维持符合在巴塞尔协定III法定下限的水平,有监 于其内部资本生成微弱。相较于高银的风险胃纳与包含营建业放款在内的集中度风险略高于同业等因素,其资本水准实属较低。惠誉认为中央政府在情况必要时将透过高市府提供该行 所需支援。惠誉预估在高银2017年三月底完成增资后,其惠誉资本比率将由2014年底的6.7%与2015年底的7.3%提升至8.7%,然同业平均约为11%。 次顺位债 高银之巴塞尔协定III第二类资本债券评等较其国内长期评等低二个评级,其中0个评级代表不履约风险,2个评级代表损失程度,以反映相较国际标准版的巴塞尔协定III第二 类资本债券仅低于基准评等一个评级,台湾该债券的回收可能性较低。国际标准版之无法存续事件为主管机关决议银行债劵持有人得吸收损失或需要政府增资,而台湾则采用较不易触 发的银行接管为无法存续事件。惠誉认为政府通常在资本水准相当低时才会进行破产程序,因而降低债劵回收得可能性。 高银次顺位债券的基准评等为该行以政府支援为基础的国内长期评等。惠誉认为,高市府或中央政府透过高市府,于必要时提供高银所需支援以履行债务的意愿极高。 上述评等标准系根据惠誉对银行次顺位及混合性资本工具的评等准则。 评等敏感性 国内评等 高银的评等取决于政府提供该行即时支援的意愿。若高银对高市府的政策性角色下降,和/或高市府对高银的股权及控制权发生弱化,高银的评等可能因而调降。同时,若台湾的主权 评等发生改变,该行的评等可能同向调整。 次顺位债 任何高雄银行国内长期评等的改变将可能对该行第二类资本债券评等造成同向影响。 详细评等结果列示如下: 国内长期评等确认为由'A+(twn)'调升为 'AA-(twn)';评等展望稳定 国内短期评等确认为 'F1+(twn)'。 巴塞尔协定III第二类资本债券: 国内长期评等由'A-(twn)'调升为 'A(twn)'。 注:此为中文译本,若与原英文版本有任何出入,请以英文版为准。 Contact: Primary Analyst Cherry Huang, CFA Director +886 2 81757603 Fitch Australia Pty Ltd, Taiwan Branch Suite 1306, 13F, Tun Hwa N. Rd., Taipei Secondary Analyst Kaichung Lee Analyst +886 2 81757607 Committee Chairperson Parson Singha Senior Director +66 2108 01514 Media Relations: Wai-Lun Wan, Hong Kong, Tel: +852 2263 9935, Email: wailun.wan@fitchratings.com. 编辑附注:惠誉国内评等系依该市场需求或于主权评等相对较低的国家中,提供各受评机构相对信用品质指标。该国国内信用风险最低者,其评等为‘AAA’,该国其余受评机构或 债券之评等即以此作为相对衡量基准。国内评等主要提供予该国市场之国内投资人参考使用,并加注受评机构所属国家的专属标记以兹识别,如‘AAA(twn)’即为台湾之国内 评等。因此,不同国家之国内评等无法跨国比较。 Additional information is available on www.fitchratings.com Applicable Criteria Global Bank Rating Criteria (pub. 25 Nov 2016) here National Scale Ratings Criteria (pub. 07 Mar 2017) here Additional Disclosures Solicitation Status here Endorsement Policy here ALL FITCH CREDIT RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND DISCLAIMERS. PLEASE READ THESE LIMITATIONS AND DISCLAIMERS BY FOLLOWING THIS LINK: here. IN ADDITION, RATING DEFINITIONS AND THE TERMS OF USE OF SUCH RATINGS ARE AVAILABLE ON THE AGENCY'S PUBLIC WEB SITE AT WWW.FITCHRATINGS.COM. PUBLISHED RATINGS, CRITERIA, AND METHODOLOGIES ARE AVAILABLE FROM THIS SITE AT ALL TIMES. FITCH'S CODE OF CONDUCT, CONFIDENTIALITY, CONFLICTS OF INTEREST, AFFILIATE FIREWALL, COMPLIANCE, AND OTHER RELEVANT POLICIES AND PROCEDURES ARE ALSO AVAILABLE FROM THE CODE OF CONDUCT SECTION OF THIS SITE. FITCH MAY HAVE PROVIDED ANOTHER PERMISSIBLE SERVICE TO THE RATED ENTITY OR ITS RELATED THIRD PARTIES. DETAILS OF THIS SERVICE FOR RATINGS FOR WHICH THE LEAD ANALYST IS BASED IN AN EU-REGISTERED ENTITY CAN BE FOUND ON THE ENTITY SUMMARY PAGE FOR THIS ISSUER ON THE FITCH WEBSITE. Copyright © 2016 by Fitch Ratings, Inc., Fitch Ratings Ltd. and its subsidiaries. 33 Whitehall Street, NY, NY 10004. Telephone: 1-800-753-4824, (212) 908-0500. Fax: (212) 480-4435. Reproduction or retransmission in whole or in part is prohibited except by permission. All rights reserved. In issuing and maintaining its ratings and in making other reports (including forecast information), Fitch relies on factual information it receives from issuers and underwriters and from other sources Fitch believes to be credible. Fitch conducts a reasonable investigation of the factual information relied upon by it in accordance with its ratings methodology, and obtains reasonable verification of that information from independent sources, to the extent such sources are available for a given security or in a given jurisdiction. The manner of Fitch’s factual investigation and the scope of the third-party verification it obtains will vary depending on the nature of the rated security and its issuer, the requirements and practices in the jurisdiction in which the rated security is offered and sold and/or the issuer is located, the availability and nature of relevant public information, access to the management of the issuer and its advisers, the availability of pre-existing third-party verifications such as audit reports, agreed-upon procedures letters, appraisals, actuarial reports, engineering reports, legal opinions and other reports provided by third parties, the availability of independent and competent third- party verification sources with respect to the particular security or in the particular jurisdiction of the issuer, and a variety of other factors. Users of Fitch’s ratings and reports should understand that neither an enhanced factual investigation nor any third-party verification can ensure that all of the information Fitch relies on in connection with a rating or a report will be accurate and complete. Ultimately, the issuer and its advisers are responsible for the accuracy of the information they provide to Fitch and to the market in offering documents and other reports. In issuing its ratings and its reports, Fitch must rely on the work of experts, including independent auditors with respect to financial statements and attorneys with respect to legal and tax matters. Further, ratings and forecasts of financial and other information are inherently forward-looking and embody assumptions and predictions about future events that by their nature cannot be verified as facts. As a result, despite any verification of current facts, ratings and forecasts can be affected by future events or conditions that were not anticipated at the time a rating or forecast was issued or affirmed. The information in this report is provided “as is” without any representation or warranty of any kind, and Fitch does not represent or warrant that the report or any of its contents will meet any of the requirements of a recipient of the report. A Fitch rating is an opinion as to the creditworthiness of a security. This opinion and reports made by Fitch are based on established criteria and methodologies that Fitch is continuously evaluating and updating. Therefore, ratings and reports are the collective work product of Fitch and no individual, or group of individuals, is solely responsible for a rating or a report. The rating does not address the risk of loss due to risks other than credit risk, unless such risk is specifically mentioned. Fitch is not engaged in the offer or sale of any security. All Fitch reports have shared authorship. Individuals identified in a Fitch report were involved in, but are not solely responsible for, the opinions stated therein. The individuals are named for contact purposes only. A report providing a Fitch rating is neither a prospectus nor a substitute for the information assembled, verified and presented to investors by the issuer and its agents in connection with the sale of the securities. Ratings may be changed or withdrawn at any time for any reason in the sole discretion of Fitch. Fitch does not provide investment advice of any sort. Ratings are not a recommendation to buy, sell, or hold any security. Ratings do not comment on the adequacy of market price, the suitability of any security for a particular investor, or the tax-exempt nature or taxability of payments made in respect to any security. Fitch receives fees from issuers, insurers, guarantors, other obligors, and underwriters for rating securities. Such fees generally vary from US$1,000 to US$750,000 (or the applicable currency equivalent) per issue. In certain cases, Fitch will rate all or a number of issues issued by a particular issuer, or insured or guaranteed by a particular insurer or guarantor, for a single annual fee. Such fees are expected to vary from US$10,000 to US$1,500,000 (or the applicable currency equivalent). The assignment, publication, or dissemination of a rating by Fitch shall not constitute a consent by Fitch to use its name as an expert in connection with any registration statement filed under the United States securities laws, the Financial Services and Markets Act of 2000 of the United Kingdom, or the securities laws of any particular jurisdiction. Due to the relative efficiency of electronic publishing and distribution, Fitch research may be available to electronic subscribers up to three days earlier than to print subscribers. For Australia, New Zealand, Taiwan and South Korea only: Fitch Australia Pty Ltd holds an Australian financial services license (AFS license no. 337123) which authorizes it to provide credit ratings to wholesale clients only. Credit ratings information published by Fitch is not intended to be used by persons who are retail clients within the meaning of the Corporations Act 2001

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below