TCC Maintains "Stable" Taiwan Ratings Outlook for Third Year

Office of Responsibility and Sustainability

After eight years of sustainability-driven transformation, TCC Group Holdings has evolved into a multinational holding group spanning low-carbon cement, green energy, and resource recycling across 20 core markets. Its operational footprint has expanded from Taiwan and Mainland China into Mediterranean and European markets like Portugal and Türkiye, alongside emerging footholds in African nations such as Cameroon and Ghana.

Because this transition requires long-term capital, investors and international financing institutions closely monitor TCC's financial health. On July 23, Taiwan Ratings Corporation affirmed TCC's long-term issuer credit rating at “twA+” and its short-term rating at “twA-1”, maintaining a “stable” long-term outlook. This steady rating serves as a crucial indicator of TCC's robust financial resilience amidst its ongoing overseas expansion.

About Taiwan Ratings and “twA+”

Founded in 1997, Taiwan Ratings is Taiwan's first credit rating agency and an affiliate of S&P Global Ratings, applying rating methodologies consistent with international standards. Its ratings carry the "tw" prefix, denoting a national scale rating benchmarked against Taiwanese issuers. "twA+" sits in the upper medium grade of investment-grade ratings, indicating a strong capacity to meet financial commitments; the short-term rating "twA-1" is among the highest grades for short-term debt repayment capacity. A "stable" outlook means the rating is relatively unlikely to be raised or lowered in the foreseeable future.

The report noted these ratings reflect TCC's strong position in key markets like Taiwan, Mainland China, Portugal, and Türkiye, along with its strategic diversification. This cross-regional footprint effectively mitigates operational risks tied to cement cycle fluctuations in single markets.

Looking ahead, TCC will optimize capital allocation and enhance operational efficiency. Through asset optimization and core business development, TCC will strengthen its financial resilience to steadily advance its low-carbon transition and sustainable operations. 

For more details, please refer to the full Taiwan Ratings report.