Fitch rates Polaris

Fitch ratings said it assigned ratings to Polaris Securities Co., Ltd., including international long-term at BBB-, national long-term A(twn), international short-term F3, national short-term F1(twn), individual C/D and support 5.

The outlook is stable.

The ratings reflect Polaris' diversified business profile, strong innovation in financial engineering, leading market position in e-trade services, clean balance sheet and sound risk management, Fitch noted.

The ratings also take into account the company's weaknesses, notably its difficulties in reaching retail customers compared with larger commercial banks and its stretched capital position following its strategic investment in Bank of Overseas Chinese, Fitch added.

The agency said Polaris has a track record of reasonably stable profitability.

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