S&P affirms Taiwan ratings at AA-/A-1+ with GDP growth to come

SINGAPORE - Standard & Poor's today affirmed its 'AA-' long-term and 'A-1+' short-term unsolicited issuer credit ratings on Taiwan, with the outlook is stable. Taiwan’s transfer and convertibility assessment remains 'AA+', and S&P’s 'cnAAA/cnA-1+' Greater China regional scale ratings on Taiwan were affirmed. The ratings agency said Taiwan's extremely strong external position, sound monetary management, and dynamic information technology (IT) companies in the private sector support the ratings. “Tempering these strengths are moderately high Government debt and a small, open economy that is vulnerable to global economic conditions.”