S&P moves Mirae Asset view to stable

S&P said it changed Mirae Asset Securities Ltd.’s outlook to stable from negative and affirmed the BBB ratings on the company and its senior unsecured notes.

“The outlook revision reflects our expectation that MAS will likely improve and maintain adequate capital buffer over the next 18-24 months. This is based on our view that the company will have slower investment asset growth as it prioritizes risk management amid tighter regulatory monitoring on securities firms,” S&P said in a press release.

The agency said it projects Mirae’s S&P Global Ratings' risk-adjusted capital ratio to remain at 7.5%-8.5% over the next one to two years, above its 7% threshold for an adequate capital, leverage and earnings assessment. This range compares with about 6.9% as of Dec. 31.

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