trending Market Intelligence /marketintelligence/en/news-insights/trending/rf_n3x3tcnowk9yigoxisq2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

Thank you for your interest in S&P Global Market Intelligence! We noticed you've identified yourself as a student. Through existing partnerships with academic institutions around the globe, it's likely you already have access to our resources. Please contact your professors, library, or administrative staff to receive your student login.

At this time we are unable to offer free trials or product demonstrations directly to students. If you discover that our solutions are not available to you, we encourage you to advocate at your university for a best-in-class learning experience that will help you long after you've completed your degree. We apologize for any inconvenience this may cause.

In This List

Fitch upgrades 2 Taiwan securities companies, affirms 4 others

Street Talk - Ep. 64: Coronavirus jumpstarts digital adoption

Street Talk Podcast

Street Talk - Ep. 63: Deal talks continue amid bank M&A freeze, setting up for strong Q4

Street Talk Podcast

Street Talk - Ep. 62: 'Brutal' outlook for oil demand offers banks in oil patch no relief

Amid Q1 APAC Fintech Funding Slump, Payment Companies Drove Investments


Fitch upgrades 2 Taiwan securities companies, affirms 4 others

Fitch Ratings upgraded the national long-term rating of Taiwan-based Grand Fortune Securities Co. Ltd. to A-(twn) from BBB+(twn).

The rating agency said May 10 that it also upgraded the national short-term ratings of Grand Fortune Securities and Oriental Securities Corp. to F1(twn) from F2(twn). Fitch also affirmed the latter's long- and short-term issuer default ratings at BB+ and B, respectively, as well as its national long-term rating at A-(twn).

The outlook for both securities firms are stable.

The ratings upgrade on Grand Fortune Securities is driven by Fitch's view on the strength of its franchise in the Taiwanese equity underwriting segment, while the upgrade on Oriental Securities' ratings reflects the strength in its liquidity profile.

In addition, Fitch also affirmed the long- and short-term issuer default ratings of Concord Securities Co. Ltd. at BB+ and B, respectively, as well as its national long- and short-term ratings at A(twn) and F2(twn).

The national long-term ratings of Ta Ching Securities Co. Ltd. and Horizon Securities Co. Ltd. were affirmed at BBB+(twn) and BBB(twn), respectively, while their national short-term ratings were affirmed at F2(twn) and F3(twn), respectively.

Further, the rating agency also affirmed the long- and short-term issuer default ratings of TaChan Securities Co. Ltd. at BB and B, respectively, as well as the company's national long- and short-term ratings at BBB+(twn) and F2(twn), respectively.

The outlook on the four companies are all stable.

Fitch said ratings upgrades for the six companies are unlikely, given their overall modest franchises. Ratings downgrades for Oriental Securities, Grand Fortune Securities, Ta Ching Securities and TaChan Securities are less likely due to their healthy balance sheets with ample buffers in capital and liquidity.

Concord Securities' inability to execute a consistent strategy for sustained earnings improvement through a wider product offering could lead to a ratings downgrade, while a significant deterioration in Horizon Securities' capitalization could lead to the same.