Fitch rates Yuanta Securities debentures F1+(tha)

Fitch Ratings said it assigned a national short-term rating of F1+(tha) to Yuanta Securities (Thailand) Co. Ltd.'s upcoming Thai baht-denominated senior unsecured debentures.

Yuanta Securites will issue up to 6 billion in Thai baht of short-term debentures, which will have a maximum tenor of 270 days at issue, Fitch explained.

The proceeds will be used to support liquidity requirements, the agency said.

Fitch said it rates the senior unsecured notes at the same level as Yuanta's national short-term rating of F1+(tha) as they represent unsubordinated and unsecured obligations.

The ratings are underpinned by institutional support, the agency added.

Yuanta Securities is viewed as a strategically important subsidiary of Yuanta Financial Holding Co., Ltd., Fitch noted.

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