Nice Credit Rating lowered Hana Securities' rating outlook
Kim Jisun
stockmk2020@alphabiz.co.kr | 2024-04-16 03:34:30
Hana Financial Group. (photo = Yonhap news).
[Alpha Biz= Reporter Kim Jisun] Nice Credit Ratings said on the 15th that it will lower its rating outlook from "stable" to "negative," evaluating Hana Securities' credit rating of unguaranteed bonds as "AA."
Nice Credit Rating explained the reason for the downward trend in the rating outlook, saying that "monitoring of the stability of its profit base is needed due to growing uncertainties over profit creation in the corporate finance (IB) sector, which has been driving growth amid a deficit turnaround last year."
The Nice Investors Service added, "It is positive that the company proactively recognized damages related to alternative investments at home and abroad and set aside large-scale provisions last year, but there is still a possibility of additional losses related to alternative investments at home and abroad due to continued uncertainties in the investment environment such as prolonged high interest rates."
It also pointed out that monitoring of changes in the competitive status of some business sectors of Hana Securities is necessary.
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