Bangkok--15 Jul--Fitch Ratings
Fitch Ratings (Thailand) has affirmed Phatra Securities Public Company Limited's (Phatra) National Long-Term Rating at 'A-(tha)' with a Stable Outlook and National Short-Term Rating at 'F2(tha)'. At the same time, Fitch has chosen to withdraw the ratings of Phatra for commercial reasons.
A full list of rating actions is at the end of this rating action commentary.
KEY RATING DRIVERS
Phatra's ratings reflect its sound domestic brokerage franchise for institutional and high-net-worth clients, and its strong investment banking presence. Phatra's solid domestic franchise and greater revenue diversification support its profitability, which is consistently stronger than that of local peers.
RATING SENSITIVITIES
Rating sensitivities are not applicable as the ratings have been withdrawn.
The rating actions are as follows:
National Long-Term Rating affirmed at 'A-(tha)'; Outlook Stable; withdrawn
National Long-Term Rating affirmed at 'F2(tha)' and withdrawn