Fitch may downgrade Primasia Securities

Fitch Ratings said it placed Primasia Securities Co., Ltd.'s national long-term rating of BBB-(twn) and national short-term rating of F3(twn) on Rating Watch negative.

The negative watch mainly reflects concerns that ongoing poor market conditions are likely to result in further operating losses and weaken Primasia's capitalization, Fitch said.

The watch will be resolved upon a further assessment of Primasia's liquidity and capitalization in the coming six months amid the ongoing market volatility, the agency said.

The ratings reflect its concentrated business profile on proprietary trading, high market risk exposures and weaker, but acceptable, capital position, Fitch 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.