By: Frances Huang
Taipei, Oct. 13 (CNA) U.S.-based ratings agency Fitch Ratings has affirmed Taiwan’s Long-Term Foreign-Currency Issuer Default Ratings at “AA-” and its Long-Term Local-Currency Issuer Default Ratings at “AA-” and gave a stable outlook for the two ratings.
“The affirmation reflects Taiwan’s robust external finances, strong macroeconomic policy framework, competitive business environment and high governance standards,” Fitch said in a statement.
The latest ratings, however, were constrained by Taiwan’s per capita income of US$25,095, which is far below the median US$46,637 in the “AA” category, the agency said.
Fitch also warned that the complex ties with China have the potential to affect Taiwan’s economy and politics. [FULL STORY]