Fitch affirms KGI Securities

Fitch Ratings said it affirmed KGI Securities Co. Ltd.'s long-term foreign-currency issuer default rating at BBB, short-term foreign-currency issuer default rating at F3, national long-term rating at A+(twn), national short-term rating at F1(twn) and senior unsecured rating at A+(twn).

The outlook remains stable.

The ratings mainly reflect KGI's limited leverage, adequate liquidity and properly institutionalized risk management, Fitch said.

They also consider the company's small Asia-based franchise among international securities firms, the agency said, and the inherent volatility of its risk profile, associated with the often unpredictable capital markets.

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