...Outlook The stable outlook on Fubon Bank (China) Co. Ltd. reflects our expectation that the bank will remain a highly strategic subsidiary of Taiwan-based Fubon Financial Holding Co. Ltd. (Fubon FHC: ###+/Stable/A-2). The outlook also reflects our view that the group will maintain a stable credit profile over the next one to two years. We may upgrade Fubon Bank (China) if Fubon FHC group's credit profile improves. We view this scenario as remote over the next 12-24 months. We may also raise the rating if we view Fubon Bank (China) as a core entity of the group. This could happen if the bank can improve its operating performance and become one of the major and stable profit contributors to the group. However, we view this scenario as unlikely in the next 12-24 months, given the bank's small scale of operations in the competitive China market. We may downgrade Fubon Bank (China) if the group's creditworthiness deteriorates....
