Fitch affirms Investsmart

Fitch Ratings said it affirmed Investsmart Financial Services Ltd.'s national long-term rating at AAA(ind) and national short-term rating at F1+(ind), along with the AAA(ind) rating on its Rs. 5 billion long-term debt program and F1+(ind) rating on its Rs. 10 billion short-term debt program.

The outlook is stable.

The ratings reflect the strong linkages between Investsmart Financial and its parent, the Hongkong and Shanghai Banking Corp. Ltd., Fitch said.

The agency said the ratings are driven by an expectation of a high probability of timely support from its parent in case of need.

Fitch noted that while credit, market and operational risks are well-managed now, these risks have not been tested in a market downturn.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.