Fitch affirms Woori Investment

Fitch Ratings said it affirmed Woori Investment & Securities Co Ltd.'s long-term foreign-currency issuer default rating at BBB+ and short-term issuer default rating at F2.

The outlook remains stable.

The ratings reflect the company's good franchise as the largest securities company in Korea and potential support from major shareholder Woori Financial Group (rated BBB+ with stable view), the country's largest banking group, Fitch said.

The ratings also are supported by the company's adequate balance sheet strength and profitability, the agency said.

However, if the financial profile weakens from increasing leverage or deteriorating economic conditions, the ratings could come under pressure, Fitch said.

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