Fitch cuts KB Securities short-term

Fitch Ratings said it affirmed KB Securities Co., Ltd.'s long-term issuer default rating at A- and its support rating at 1.

The outlook is stable.

At the same time, Fitch downgraded its short-term issuer default rating to F2 from F1.

The agency said the downgrade of the short-term issuer default rating reflects Fitch's revised view that the company’s short-term default risk is higher than that of Kookmin Bank (A/stable/F1), the main operating bank of its parent KB Financial Group Inc.

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