Fitch lifts E. Sun Securities

Fitch Ratings said it upgraded E. Sun Securities Corp.'s national long-term rating to A+(twn) from A(twn) and its national short-term rating to F1+(twn) from F1(twn).

The outlook is stable.

E. Sun Securities is a wholly-owned subsidiary of E. Sun Financial Holding Co., of which the principal and fully-owned subsidiary is E. Sun Bank.

The upgrade reflects a re-assessment of a strong linkage among the companies in the group in risk profiles, as well as modest leverage at the holding parent, the agency said.

The national ratings of E. Sun Securities are driven by obligatory and strong support from its parent E. Sun Financial, Fitch said. E. Sun Securities will continue to grow its brokerage franchise primarily through cross-selling to E. Sun Bank's larger customer base, the agency said.

The stable outlook is supported by E. Sun Financial's resilient credit profile and continuing strong parental support, Fitch said.

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