Phatra Securities rating set at “A/Stable”
Thai Rating and Information Services (TRIS) has upgraded the company rating on Phatra Securities PLC (PHATRA) to “A/Stable” from “A-/Positive”.
The rating upgrade follows a rating action on the parent bank, Kiatnakin Bank PLC (KK, upgraded to “A/Stable” from “A-/Positive” by TRIS Rating), which represents the Kiatnakin Phatra Financial Group (KKP).
The rating on PHATRA is linked to KK’s rating due to PHATRA’s status as a core subsidiary of KKP, evidenced by a strong profit contribution and close linkage to KKP.
The company rating of PHATRA also reflects the company’s well-diversified revenue base, its continuing profitability, and its sufficient liquidity and capital base.
The rating is, however, constrained by its exposure to market risks associated with its principal investment activities, which affects the risk profile of the company.
