First Financial Holding Company, Ltd.: Semiannual update - Moody's Global Credit Research

First Financial Holding Company, Ltd.: Semiannual update

First Financial Holding Company, Ltd.: Semiannual update - Moody's Global Credit Research
First Financial Holding Company, Ltd.: Semiannual update
Published Dec 27, 2017
4 pages (2736 words) — Published Dec 27, 2017
Price US$ 250.00  |  Buy this Report Now

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Brief Excerpt:

...First Financial Holding Company, Ltd.'s (First Financial) A3 rating reflects (1) the company's status as one of Taiwan's largest financial groups; (2) its solid financials, with a low balance- sheet leverage; and (3) the sizable market share of its principal subsidiary, First Commercial Bank (A2 stable). The company's issuer rating are positioned one notch below First Commercial Bank's A2 deposit rating, which reflects our assessment that a holding company's obligations are structurally subordinated to claims on its operating subsidiaries. First Financial's issuer rating also incorporate our expectation of a very high level of support from the Government of Taiwan (Aa3 stable) for financial holding groups in Taiwan, particularly those principally engaged in banking services. We believe that First Commercial Bank is of systemic importance and is therefore likely to receive a very high level of government support if necessary. Our expectation is that this support would be channeled via First...

  
Report Type:

Credit Opinion

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First Financial Holding Company, Ltd.
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First Financial Holding Company, Ltd.: Update to credit analysis - Credit Opinion – 2020/09/17 – US$ 250.00 – ...[1] All figures and ratios are adjusted using Moody's standard adjustments. [2] Fiscal year ending 31 December; IFRS. [3] May include rounding differences because of the scale of reported amounts. [4] Compound annual growth rate (%) based on the periods for the latest accounting regime. [5] A simple average of periods for the latest accounting regime. [6] Parent-only ratio. [7] Annualized return. Sources: Moody's Investors Service and company filings...

First Financial Holding Company, Ltd.: Update to credit analysis - Credit Opinion – 2020/02/20 – US$ 250.00 – ...[1]All figures and ratios are adjusted using Moody's standard adjustments. [2]Fiscal year ending December 31; IFRS. [3]May include rounding differences due to scale of reported amounts. [4]Compound Annual Growth Rate (%) based on time period presented for the latest accounting regime. [5]Simple average of periods presented for the latest accounting regime [6]Parent- only ratio [7] Annualized return Source: Moody's Investors Service; Company Filings...

First Financial Holding Company, Ltd.: Update to credit analysis - Credit Opinion – 2019/08/15 – US$ 250.00 – ...[1] All figures and ratios are adjusted using Moody's standard adjustments. [2] Fiscal year ending December 31; IFRS. [3] May include rounding differences due to scale of reported amounts. [4] Compound Annual Growth Rate (%) based on time period presented for the latest accounting regime. [5] Simple average of periods presented for the latest accounting regime. [6] Parent-only ratio [7] Annualized return Sources: Moody's Investors Service, company filings...

First Financial Holding Company, Ltd.: Update following rating action - Credit Opinion – 2019/02/11 – US$ 250.00 – ...[1] All figures and ratios are adjusted using Moody's standard adjustments. [2] IFRS. [3] May include rounding differences due to scale of reported amounts. [4] Compound Annual Growth Rate (%) based on time period presented for the latest accounting regime. [5] Simple average of periods presented for the latest accounting regime. [6] Annualized return. [7] Parent only ratio. Source: Moody's Financial Metrics...

First Financial Holding Company, Ltd.: Update to credit analysis - Credit Opinion – 2018/07/26 – US$ 250.00 – ...First Financial Holding Company, Ltd.'s (First Financial) A3 issuer rating reflects (1) the company's status as one of Taiwan's largest financial groups; (2) its solid financials, with a low balance-sheet leverage; and (3) the sizable market share of its principal subsidiary, First Commercial Bank (A2 stable). The company's issuer rating is positioned one notch below First Commercial Bank's A2 deposit rating, which reflects our assessment that a holding company's obligations are structurally subordinated to claims on its operating subsidiaries. First Financial's issuer rating also incorporates our expectation of a very high level of support from the Government of Taiwan (Aa3 stable) for financial holding groups in Taiwan, particularly those principally engaged in banking services. We believe that First Commercial Bank is of systemic importance and is therefore likely to receive a very high level of government support if necessary. Our expectation is that this support would be channeled...

First Financial Holding Company, Ltd.: Post Rating Action Update - Credit Opinion – 2016/12/09 – US$ 250.00 – ...[1] IFRS [2] Fiscal year ends December 31 [3] Taiwan GAAP [4] Compound annual growth rate [5] Annualized return [6] Parent only ratio Source: Moody's Financial Metrics...

First Financial Holding Company, Ltd. - Credit Opinion – 2016/01/05 – US$ 250.00 – ...MOODY'S CREDIT RATINGS AND MOODY'S PUBLICATIONS ARE NOT INTENDED FOR USE BY RETAIL INVESTORS AND IT WOULD BE RECKLESS AND INAPPROPRIATE FOR RETAIL INVESTORS TO USE MOODY'S CREDIT RATINGS OR MOODY'S PUBLICATIONS WHEN MAKING AN INVESTMENT DECISION. IF IN DOUBT YOU SHOULD CONTACT YOUR FINANCIAL OR OTHER PROFESSIONAL ADVISER. ALL INFORMATION CONTAINED HEREIN IS PROTECTED BY LAW, INCLUDING BUT NOT LIMITED TO, COPYRIGHT LAW, AND NONE OF SUCH INFORMATION MAY BE COPIED OR OTHERWISE REPRODUCED, REPACKAGED, FURTHER TRANSMITTED, TRANSFERRED, DISSEMINATED, REDISTRIBUTED OR RESOLD, OR STORED FOR SUBSEQUENT USE FOR ANY SUCH PURPOSE, IN WHOLE OR IN PART, IN ANY FORM OR MANNER OR BY ANY MEANS WHATSOEVER, BY ANY PERSON WITHOUT MOODY'S PRIOR WRITTEN CONSENT. All information contained herein is obtained by MOODY'S from sources believed by it to be accurate and reliable. Because of the possibility of human or mechanical error as well as other factors, however, all information contained herein is provided "AS...

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MLA:
Moody's Global Credit Research. "First Financial Holding Company, Ltd.: Semiannual update" Dec 27, 2017. Alacra Store. May 20, 2024. <http://www.alacrastore.com/moodys-credit-research/First-Financial-Holding-Company-Ltd-Semiannual-update-PBC_1103462>
  
APA:
Moody's Global Credit Research. (). First Financial Holding Company, Ltd.: Semiannual update Dec 27, 2017. New York, NY: Alacra Store. Retrieved May 20, 2024 from <http://www.alacrastore.com/moodys-credit-research/First-Financial-Holding-Company-Ltd-Semiannual-update-PBC_1103462>
  
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