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5871 - Chailease Holding News Story

TWD169 -1.0  -0.6%

Last Trade - 3:40am

Sector
Financials
Size
Large Cap
Market Cap £6.13bn
Enterprise Value £15.01bn
Revenue £1.57bn
Position in Universe 215th / 6012

RPT-Fitch rates Taiwan's Chailease's bond 'A(twn)'

Mon 22nd July, 2013 8:54am
(Repeat for additional subscribers) July 22 (Reuters) - (The following statement was released by the rating agency) Fitch Ratings has assigned Taiwan-based Chailease  Finance Co. Ltd's  CHFIN.UL  (Chailease) proposed TWD1.4bn 1.6% senior unsecured bonds,  maturing on 22 July 2018, a National Long-Term 'A(twn)' Rating. 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 bond's 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 42.5% market share. Chailease is fully owned by Chailease Holding Company  Ltd. (Cayman). Andre Koo and his associates collectively control a majority  stake in Chailease Holding Company Ltd. (Cayman) and four out of nine board  seats. For a detailed credit profile on Chailease, see Fitch's credit report dated 31  January 2013, available at www.fitchratings.com. ((Bangalore Ratings Team, Hotline: +91 80 6677 2513 Debanjali.Ghosh@thomsonreuters.com, Group id:  BangaloreRatings@thomsonreuters.com, Reuters Messaging:  Debanjali.Ghosh.reuters.com@reuters.net)) Keywords: Fitch Rates Taiwan's Chailease's Bond 'A' (RE
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