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The Rundown: PSMC Revenue Growth, Taipower Issues Green Bonds, and PC Sales Revenue Remain Strong
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Acer given stable credit outlook - Taipei Times
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Taipei 101 operator s outlook raised
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Outlook for Taipei 101 operator upgraded to stable
03/06/2021 07:07 PM
CNA file photo
Taipei, March 6 (CNA) The outlook for Taipei Financial Center Corp. (TFCC), which owns the landmark skyscraper Taipei 101, has been upgraded from negative to stable, on recovering revenue of its shopping mall, according to Taiwan Ratings.
Stable income from rental of the building s office spaces was also cited by Taiwan Ratings as a favorable factor in its TFCC outlook.
As a result, Taiwan Ratings, a local partner of S&P Global Ratings, has issued a twAA-/twA-1+ credit rating for TFCC. A benign COVID-19 outbreak in Taiwan has limited the potential downside risk from the pandemic on domestic consumption power, Taiwan Ratings said. Meanwhile, the propensity of local consumers to increase their budget for domestic consumption to replace their spending overseas amid travel restrictions could continue to fuel domestic consumption in 2021 and 2022.
Taiwan to grow 1.64% this year: S&P
RISKS: Vaccine rollout has bolstered growth prospects, but downside risks, such as increasing global debt and slow demand, could affect a post-pandemic recovery
By Crystal Hsu / Staff reporter
S&P Global Ratings has raised Taiwan’s GDP growth forecast from 1 percent to 1.64 percent for this year, while trimming the pace from 3 percent to 2.9 percent for next year, amid the benefits of a stay-at-home economy and optimism that COVID-19 vaccines would reduce downside risks.
The rollout of vaccination programs against the COVID-19 outbreak would support a stable outlook for Taiwan’s economy this year and next year, despite global demand being ravaged by the pandemic, corporate credit analyst Raymond Hsu (許智清) at Taiwan Ratings Corp (中華信評), the local arm of S&P, told a news conference in Taipei yesterday.