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Moody's cuts Land Bank of Taiwan's financial strength rating to D+.
(From Taiwan Economic News)
Taipei, Sept. 10, 2002 (CENS)--Moody's Investors Service yesterday downgraded Land Bank of Taiwan's financial strength rating to D+ from C-, concluding the review announced on July 16, 2002. The bank's long- and short-term deposit ratings were not on review and remain unchanged at A2 and Prime-2 respectively. The rating outlook is stable, the rating agency said in a press release. The downgrade of the bank's financial strength rating reflects concerns over Land Bank's ability to respond to mounting competitive challenges in its core business lines, and the bank's remaining policy functions, which have the potential to pressure risk-adjusted …
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