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Fitch assigns ratings to Taiwan's Capital Securities

Fitch Ratings assigned Taiwan-based Capital Securities Corp. a long-term issuer default rating of BBB- and national long- and short-term ratings of A(twn) and F1(twn), respectively.

The rating agency said Sept. 17 the outlook is stable.

Fitch said the company's ratings are driven by its long-standing and stable franchise in Taiwan's stockbroking sector, good capital profile and sound risk-management framework. The ratings are constrained by the company's limited diversity, which could lead to volatile earnings.