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S&P assigns ratings to Union Bank of Taiwan

S&P Global Ratings assigned Union Bank of Taiwan Ltd. long- and short-term issuer credit ratings of BBB- and A-3, respectively, with a stable outlook.

The rating agency said March 7 that the ratings reflect the Taiwanese lender's strong capital base, as well as its adequate funding and liquidity profile. The bank's relatively small scale and higher risk concentration on the cyclical real estate sector somewhat offset the strengths, S&P said.

S&P expects the bank to maintain its strong capitalization in 2019 and 2020.

Descriptions of credit ratings in this news article were not prepared by S&P Global Ratings. The original S&P Global Ratings document referred to in this news brief can be found here.