Fubon Life Insurance Co. Ltd. has maintained its improved liquidity over the past few quarters, providing a strong buffer against potential cash outflows. We have therefore revised our liquidity assessment for the insurer to exceptional from adequate. We affirmed our'A-'long-term issuer credit and financial strength ratings on Fubon Life along with the'BBB+'issue credit rating on the unsecured subordinated corporate bonds issued by Fubon Life Singapore Pte. Ltd. that Fubon Life guarantees. The outlook on the long-term ratings remains stable, reflecting our expectation that Fubon Life will remain a significant contributor to the Fubon group's consolidated group credit profile over the next two years, while also maintaining a stable stand-alone credit profile (SACP). S&P Global Ratings today
