Moody's reviews CTBC Financial and CTBC Bank for downgrade

Hong Kong, November 04, 2013 -- Moody's Investors Service has placed on review for possible downgrade the long-term foreign currency A3 issuer rating of CTBC Financial Holding Co., Ltd. (CTBC FHC). In addition, Moody's has also put on review for possible downgrade the A2/P-1 local currency and foreign currency long-term/short-term deposit ratings, the Baa3 foreign currency junior subordinated debt (issued by CTBC Bank, Hong Kong Branch) rating, and the C- bank financial strength rating (mapping to a baa2 baseline credit assessment) of CTBC Bank Co., Ltd. This rating action follows CTBC FHC's announcement to acquire Tokyo Star Bank (unrated) and Taiwan Life Insurance Co. Ltd. (unrated).

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