This study aims to investigate the seats of independent board members of Taiwan companies and measure their effect on credit risk rating. In this study, Taiwan’s publicly traded companies from 2004 to 2009 are selected as samples, credit risk evaluated by Taiwan Economic Journal is served as dependent variable, and the seats of independent board members are served as independent variables. Besides, shareholding ratio of directors and supervisors, pledged shares ratio of directors and supervisors, scale of company, liability ratio and return on assets are considered as controllable variables. Multivariate ordered logistic regression is used as analysis model. The empirical results show that the seats of independent board members are significantly negative with credit risk rating. The finds support that independent board members do have supervisory function on their companies and their seats have a significant effect on credit risk rating.