Fitch Upgrades Taiwan High Speed Rail Long-Term Rating to Highest Level AAA

(CNA Reporter Yu Hsiao-han, Taipei, June 29) Taiwan High Speed Rail (THSR) announced today that Fitch Ratings recently upgraded THSR's long-term credit rating to the highest level of AAA (twn), maintaining a "stable" outlook, and affirmed its short-term rating of F1+ (twn).

THSR issued a press release stating that the affirmation by an international rating agency, upgrading its credit rating from AA+ (twn) to the highest level of AAA (twn), is the highest recognition of the company's commitment to sound financial health, improved operational performance, and strengthened risk management capabilities.

THSR stated that it will more actively play its role as the nation's transportation artery in the future, aiming to drive industrial connections and urban development.

THSR indicated that since its operation, it has been committed to improving its financial structure. Through sound capital management, it has achieved the goal of continuously optimizing its financial situation and reducing liquidity risk, providing THSR with a robust financial structure as a solid foundation for stable operations.

THSR's new generation train, the N700ST, will be manufactured in Japan starting in July. The 12 new train sets will arrive in Taiwan successively from August and will begin operation starting next year. After the new trains are in place, THSR's fleet size will increase to 46 train sets, which can effectively increase capacity by 25% during peak hours. (Editor: Kuan Chung-wei) 1150629

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