Fitch ups Kim Eng to A(tha)

Fitch Ratings said it upgraded Kim Eng Securities (Thailand) plc's national long-term rating to A(tha) from BBB+(tha) and its national short-term rating to F1(tha) from F2(tha).

The outlook is stable.

This follows a reassessment of the company's moderate risk profile, thanks to its solid capital and liquidity positions, and its strong local retail franchise, which draws benefits from the expertise and support of its strong and sizeable foreign parent and its longstanding presence in the region, Fitch said.

While leverage could increase in the future, its balance sheet should remain strong, the agency said.

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