Fitch rates Oriental Securities BB+

Fitch Ratings said it assigned a BB+ long-term foreign-currency issuer default rating, A-(twn) national long-term rating, B short-term foreign-currency rating, F2(twn) national short-term rating, C/D individual rating and 5 support rating to Taiwan-based Oriental Securities Corp.

The outlook is stable.

The agency said the ratings are based on Oriental Securities' persistent above-industry average performance, strong capitalization and focused strategy concentrating on its core competences including proprietary trading and institutional services.

Its small size, potentially volatile trading results and relatively high equity exposures to group companies are the main factors constraining its ratings, according to Fitch.

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