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Tai-Tsai-Rong-Zi-0924000778
Direction
MINISTRY OF FINANCE
From : Ministry of Finance ("MOF")
Date : September 3, 2003
Ref. No. : Tai-Tsai-Rong-Zi-0924000778
Explanation:
1. The terms "rating agencies recognized by the competent authority" and "rating agencies" as referred to in Article 4, Paragraph 2, and Article 44 of the Real Estate Securitization Act ("Act") shall mean as follows:
(1) Standard & Poor's Corp.;
(2) Moody's Investors Service;
(3) Fitch Rating Ltd.;
(4) Taiwan Ratings Corporation;
(5) Fitch Ratings Limited, Taiwan Branch; and
(6) Moody's Taiwan Corporation.
2. The term "certain rating above" as referred to in Article 4, Paragraph 2, of the Act shall mean the rating of the trust enterprise must meet the following requirements:
(1) Have a short-term credit rating from Standard & Poor's of A-3 or above, or a long-term rating from Standard & Poor's of BBB- or above.
(2) Have a short-term rating from Moody's Investors Service of P-3 or above, or a long-term credit rating from Moody's Investors Service of Baa3 or above.
(3) Have a short-term rating from Fitch Rating Ltd. of F3 or above, or long-term rating from Fitch Rating Ltd. of BBB- or above.
(4) Have a short-term rating from Taiwan Ratings Corporation of twA-3 or above, or a long-term rating from Taiwan Ratings Corporation of twBBB- or above.
(5) Have a short-term rating from Fitch Ratings Limited, Taiwan Branch of F3 (twn) or above, or a long-term rating from Fitch Ratings Limited, Taiwan Branch of BBB- (twn) or above.
(6) Have a short-term rating from Moody's Taiwan Corporation of TW-3 or above, or a long-term rating from Moody's Taiwan Corporation of Baa3.tw or above.
3. The term "certain rating above" as referred to in Article 18, Paragraph 4, of the Act shall mean the rating of the commercial paper (i.e., promissory note or bill of exchange as referred to in Article 4, Paragraph 1, Item 3 of Bill Finance Administration Law) or of the guarantee bank, acceptance bank, or issuer of such commercial paper must meet the following requirements:
(1) Have a short-term credit rating from Standard & Poor's of A-3 or above.
(2) Have a short-term rating from Moody's Investors Service of P-3 or above.
(3) Have a short-term rating from Fitch, Inc. of F3 or above.
(4) Have a short-term rating from Taiwan Ratings Corporation of twA-3 or above.
(5) Have a short-term rating from Fitch Ratings Limited, Taiwan Branch of F3 (twn) or above.
(6) Have a short-term rating from Moody's Taiwan Corporation of TW-3 or above.
If the translations of the texts differ from the original Chinese texts, the original texts are preferential.
Last Updated:March 18, 2005 |