(The following was released by the rating agency) TAIPEI/HONG KONG, May 29 (Fitch) Fitch Ratings has assigned The Export-Import Bank of the Republic of China’s (Taiwan’s Eximbank) proposed five-year TWD2bn senior unsecured bonds a ‘AAA(twn)’ National Long-Term rating. The bond carries a fixed coupon rate and matures on 30 May of 2017.
The bond is rated at the same level as Taiwan Eximbank’s National Long-Term Rating of ‘AAA(twn)’ - which has a Stable Outlook - in compliance with Fitch’s rating criteria on senior unsecured bond instruments of financial institutions.
The bond issue is aimed at securing stable and term funding. For a detailed credit profile on Taiwan’s Eximbank, see Fitch’s credit report dated 29 November 2011.
Established in 1979 under The Export-Import Bank of the Republic of China Act, Taiwan’s Eximbank is fully owned by the Taiwanese government and supervised by the Ministry of Finance.