Fitch downgrades Taiwan local currency rating to AA-

27 Jan 2011

the international ratings agency said it had cut the local-currency debt rating because of a structural deterioration in the island’s public finances. However analysts believe the downgrade has little impact on Taiwanese government or companies in seeking overseas funding.

Fitch Ratings cut Taiwan's sovereign local currency rating from 'AA' to 'AA-' today (January 27), putting the island on par with China’s and Japan’s local-currency ratings.

The international rating agency also affirmed the island’s long-term foreign currency credit rating at “A+”, with a stable outlook.

“[The downgrade] doesn’t have a ...

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