Fitch ups E. Sun Securities to A(twn)

Fitch Ratings said it affirmed E. Sun Bank's individual rating at C and support rating at 4. At the same time, Fitch said it upgraded E. Sun Securities Corp.'s national long-term rating to A(twn) from A-(twn), national short-term rating to F1(twn) from F2(twn) and support rating to 2 from 3. Its individual rating is affirmed at D and the outlook remains stable.

The upgrade comes in light of its closer integration with E. Sun Financial Holding Co.

The bank's ratings reflect its good capitalization and asset quality, while a major constraining factor is its relatively modest profitability, Fitch said.

E. Sun Securities' ratings reflect its sound capitalization, liquid balance sheet, strong risk culture and good internal control, the agency said. The ratings are constrained by its modest and volatile profitability and small brokerage franchise, Fitch said.

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