Highly strategic subsidiary of Fubon FHC group. The stable outlook reflects our expectation that Fubon Bank (China) Co. Ltd. will remain highly strategic to the Taiwan-based Fubon Financial Holding Co. Ltd. (Fubon FHC: BBB+/Stable/A-2; cnA+/cnA-1), and the group will maintain its credit profile over the next one to two years. We may upgrade Fubon Bank (China) if Fubon FHC group's credit profile improves meaningfully. We may downgrade Fubon Bank (China) if the group's creditworthiness deteriorates substantially. We may also downgrade the bank if we assess that its strategic importance to the group has reduced, say if the group reduces its commitment to the China market. The ratings on Fubon Bank (China) reflect our expectation that the bank will remain a
