Fitch revises Finansia, KTB views to negative

Fitch Ratings said it revised the outlooks on Finansia Syrus Securities PCL and KTB Securities (Thailand) PCL to negative from stable and affirmed their long-term national ratings at BBB+(tha) and BB(tha), respectively. At the same time, Fitch affirmed

“The outlook revisions for FSS and Ktbst reflect the increasingly challenging operating environment stemming from the economic impact of the coronavirus pandemic. This will heighten downside risks to the securities companies' already weak profitability and high-cost structures. The companies' performances could be affected by the macroeconomic slowdown, poor investor sentiment, clients' wealth deterioration and increased volatility, leading to intensified market risk testing the strength of business models,” Fitch said in a press release.

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