Fitch affirms Pacific Securities

Fitch Ratings said it affirmed Pacific Securities Corp.'s national long-term rating at BBB-(twn) and national short-term rating at F3(twn).

The outlook is negative.

The affirmation is mainly supported by the company's reduced risk exposures and acceptable capitalization after the company's sizable portfolio was cut-back following multiple years of net losses, Fitch said.

The negative outlook reflects a concern about the company's lack of brokerage scale. Without effective restructuring, the company could experience further operating losses, pressuring its capitalization, the agency said.

© 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.