Credit ratings

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Last update：2021/10/04

Credit Ratings
Annual Report

Subsidiaries	Ratings Agency	Long-term	Outlook	Short-term	Last Rating
Bank of Taiwan	Taiwan Ratings Corp.	twAAA	Stable	twA-1+	2021.4
	S&P Global	AA-	Positive	A-1+	2021.4
	Moody’s	Aa3	Positive	P-1	2021.3
BankTaiwan Life Insurance	Taiwan Ratings Corp.	twAAA	Stable	-	2021.9
BankTaiwan Life Insurance	S&P Global	AA-	Positive	-	2021.9
BankTaiwan Securities	Taiwan Ratings Corp.	twAAA	Stable	twA-1+	2021.6

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