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Moody's affirms ratings of DBS Bank (Taiwan)

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Moody's affirms ratings of DBS Bank (Taiwan)

Moody's said April 1 that it affirmed 's long-term andshort-term deposit ratings at A2 and P-1, respectively.

The rating agency also affirmed the bank's baseline creditassessment at "baa3," adjusted baseline credit assessment at "a3"and counterparty risk assessment at A1(cr)/P-1(cr).

The outlook on the ratings is stable.

Neither the ratings of DBS Bank (Taiwan), nor the outlook onthe ratings, are affected by the negativeoutlook on parent company DBS Bank Ltd.

The affirmation of DBS Bank (Taiwan)'s ratings is driven byits steady performance despite the current challenging operating environment inTaiwan, Moody's said. It added that the bank maintains sound capitalization andan adequate liquidity profile.

The rating agency expects DBS Bank to provide very strongsupport to DBS Bank (Taiwan) if needed and does not expect the Taiwanese unit'sratings to be impacted even if its parent's baseline credit assessment islowered by one notch.

Moody's said it may upgrade DBS Bank (Taiwan)'s ratings ifit improves its funding position or its asset quality metrics. The bank'sbaseline credit assessment could also be upgraded if it improves itscapitalization and profitability.

Conversely, the bank's deposit ratings may be downgraded ifthere is a weakening in parental support or if DBS Bank's stand-alone baselinecredit assessment is adjusted downward by several notches. The Taiwaneselender's stand-alone assessment may be adjusted downward if its impaired loansrise above 2.7% of gross loans or its tangible common equity-to-risk-weighted-assetsratio declines to below 9.5%.

DBS Bank (Taiwan) and DBS Bank are units of