OREANDA-NEWS.  Fitch Ratings has assigned Taiwan-based Chailease Finance Co. Ltd.'s (Chailease) proposed TWD3.0bn 1.55% senior unsecured bonds, maturing on 29 June 2020, a National Long-Term Rating of 'A(twn)'.

KEY RATING DRIVERS

The bonds are rated at the same level as Chailease's National Long-Term Rating of 'A(twn)' which has a Stable Outlook, as they represent direct, unconditional and unsecured obligations of the company. The bonds' rating is in line with Fitch's rating criteria on senior unsecured bond instruments.

RATING SENSITIVITIES

Any rating action on Chailease is likely to trigger a similar move in its debt rating.

Established in 1977, Chailease is the largest leasing company in Taiwan with around 47% market share, providing leasing/instalment financing to SMEs. Chailease is fully owned by Chailease Holding Company Ltd. (Cayman), which was listed in Taiwan in December 2011.