Fitch Plans to Withdraw Ratings of Tai Fung Bank
Fitch currently rates Tai Fung Bank as follows:
-- Long-Term Issuer Default Rating (IDR) at 'BBB+'; Outlook Stable
-- Short-Term IDR at 'F2'
-- Viability Rating at 'bb+'
-- Support Rating at '2'
Fitch reserves the right in its sole discretion to withdraw or maintain any rating at any time for any reason it deems sufficient. Fitch believes that investors benefit from increased rating coverage by Fitch and is providing approximately 30 days' notice to the market of the rating withdrawal of Tai Fung Bank. Ratings are subject to analytical review and may change up to the time Fitch withdraws the ratings.
Fitch's last rating action for the above referenced entity was on 21 June 2016. The Long-Term IDR was affirmed and the Viability Rating was downgraded to 'bb+' from 'bbb-'.