Fitch rates Finansia Syrus BBB+(tha)

Fitch Ratings (Thailand) said it assigned Finansia Syrus Securities PCL a national long-term rating of BBB+(tha) with a stable outlook and a national short-term rating of F2(tha).

Fitch said the national ratings reflect Finansia Syrus’ moderate franchise in the securities brokerage business in Thailand. The company has a strong market share of 5.6% (for the first nine months of 2015) in terms of stock market trading value, ranking third overall.

However, its average trading fee has been declining due to intense competition, and the company's business structure is less diversified compared with those of domestic peers rated more highly by Fitch.

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