Fitch ups Oriental Securities to BBB-

Fitch Ratings said it upgraded Oriental Securities Corp.’s long-term foreign-currency issuer default rating to BBB- from BB+, short-term foreign-currency issuer default rating to F3 from B, national long-term rating to A(twn) from A-(twn), national short-term rating to F1(twn) from F2(twn). Its individual rating is affirmed at C/D and support rating at 5.

The outlook remains stable.

The ratings reflect the company’s strong financial profile, good profitability, solid capitalization and ample liquidity, Fitch said.

The ratings also take into account its weaknesses, mainly its small franchise and limited diversity of its revenue, the agency said.

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