June 24, 2014 / 7:02 AM / 3 years ago

RPT-Fitch Rates Taiwan's Eximbank's Bond 'AAA(twn)'

(Repeat for additional subscribers)

June 24 (Reuters) - (The following statement was released by the rating agency)

Fitch Ratings has assigned The Export-Import Bank of the Republic of China's (Taiwan's Eximbank) proposed three-year TWD1bn senior unsecured bond a 'AAA(twn)' National Long-Term Rating. The bond carries a fixed coupon rate and matures on 26 June 2017.

KEY RATING DRIVER

The bond is rated at the same level as Taiwan's 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 new debt issue aims to secure more stable and mid-term funding.

RATING SENSITIVITIES

Any rating action on Taiwan's Eximbank will trigger a similar move in its debt rating.

For a detailed credit profile on Taiwan's Eximbank, please refer to Fitch's credit report dated 29 November 2013.

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 and the Financial Supervisory Commission.

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