S&P lifts Jusan Garant view to stable

S&P said it revised the outlook on Jusan Garant to stable from negative and upgraded its national scale rating to kzBBB+ from kzBBB.

The company's B+ issuer credit rating was affirmed.

The stable outlook reflects an expectation that Jusan Garant will maintain its business and financial profiles over the next 12 months in view of its sufficient capital and earnings and strong liquidity, the agency said.

Jusan Garant's enterprise risk management has improved in 2018, in particular its underwriting controls, which support technical profitability and assessment and mitigation of catastrophic risk exposure, S&P said.

The agency said it believes the company will gradually improve its operating performance with no deterioration of its stand-alone credit quality, despite challenges faced by parent, Jusan Bank, in late 2018 and early 2019.

S&P said it believes that Jusan Garant is unlikely to be sold over the medium term and is important to Jusan Bank's long-term strategy, which envisages diversification of businesses within the group.

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