S&P and Taiwan Ratings Affirmed The Export-Import Bank of the ROC at 'AA-/A-1+' and 'twAAA/twA-1+'; Outlook Stable

On February 27, 2019, S&P Global Ratings released the latest research and affirmed its 'AA-' long-term and 'A-1+' short-term counterparty credit ratings on The Export-Import Bank of the Republic of China (Eximbank). The outlook on the long-term rating is stable. In addition, Taiwan Ratings Corp. also released the latest research and affirmed its 'twAAA' long-term and 'twA-1+' short-term issuer credit ratings on Eximbank. The outlook on the long-term rating is stable. Eximbank, as the only state-owned specialized bank of export and import credit, plays a key role on public policy and has an indispensable association with the government. Therefore, it was given the ratings aligned with the issuer credit ratings on Taiwan. The ratings on Eximbank reflect S&P and Taiwan Ratings’ view that there is an almost certain likelihood that the government of Taiwan would provide timely and sufficient extraordinary support to Eximbank in the event that Eximbank faces financial distress.