KUALA LUMPUR: Fitch Ratings (Thailand) revised the Outlook for Maybank Kim Eng Securities (Thailand) Plc to Stable from Negative and affirmed its National Ratings.The ratings agency had on Monday explained the Outlook revision followed a similar revision to the Outlook on the parent, Malayan Banking Berhad (Maybank; A-/Stable/F2) on Aug 19, 2016.Following the change in the Outlook on Maybank to Stable from Negative, Fitch reviewed parental support for Maybank Kim Eng Thailand and its creditworthiness relative to the Thai sovereign (BBB+/Stable), and deems the securities house's national long-term rating as Stable.“Maybank Kim Eng Thailand's National Ratings reflect Fitch's view that there is a high likelihood of the firm receiving extraordinary support from Maybank, if needed.“The entity is a strategically important subsidiary of Maybank Group, due to clear management control, strong integration and high operational and financial support,” it said.

Source: The Star October 10, 2016 03:15 UTC