OREANDA-NEWS. Fitch Ratings has published the National Long-Term Rating on Yuanta Commercial Bank Co., Ltd.'s (YCB) upcoming CNY250m senior unsecured bond at 'AA-(twn)'. The bond has a maturity of three years and carries a fixed interest rate of 4.60%.

KEY RATING DRIVERS - DEBT RATING

The senior unsecured bond is rated at the same level as YCB's National Long-Term Rating of 'AA-(twn)', which reflects the relative vulnerability of default of its senior obligations within the national scale for Taiwan. It is rated in accordance with Fitch's criteria on ratings senior unsecured bond instruments.

RATING SENSITIVITIES - DEBT RATING

Any action on YCB's National Long-Term Rating will trigger a similar move on the debt rating. This is most likely to come from changes to its parent Yuanta Financial Holding Co., Ltd.'s (YFHC) ratings, which in turn are driven by its fully owned subsidiary, Yuanta Securities Co., Ltd.

The other ratings on YCB are unchanged and are as follows:

YCB:
Long-Term Issuer Default Rating of 'BBB+'; Stable Outlook
Short-Term Issuer Default Rating of 'F2'
National Long-Term Rating of 'AA-(twn)'; Stable Outlook
National Short-Term Rating of 'F1+(twn)'
Viability Rating of 'bb+'