Standard&Poor's Ratings Services affirmed its 'BBB+' long-term and 'A-2' short-term counterparty ratings on Taipei Fubon Commercial Bank Co. Ltd. (Tapei Fubon Bank), formerly known as Taipeibank, on Jan. 3, 2005 following a merger on Jan. 1, 2005 in which Fubon Commercial Bank was absorbed into Taipeibank. At the same time, Standard&Poor's withdrew its 'BBB' long-term counterparty credit rating and 'A-2' short-term counterparty credit rating on Fubon Commercial Bank. The merger was carried out through a share swap at a ratio of one Fubon Commercial Bank share for 0.675 of a Taipeibank share. The ratings on the merged entity reflect its above average asset quality, satisfactory market position, good capitalization, and membership in the Fubon Financial Holding
