S&P Upgrades Credit Rating Outlook for Mirae Asset Securities

Rating Outlook Revised to 'Stable'
'BBB' Rating Maintained

[Asia Economy Reporter Song Hwajeong] The international credit rating agency Standard & Poor's (S&P) has upgraded the credit rating outlook for Mirae Asset Securities, reflecting stable earnings and appropriate risk management.

On the 27th, according to Mirae Asset Securities, S&P raised the credit rating outlook of Mirae Asset Securities, the largest securities firm in Korea, from 'negative' to 'stable' the previous day. The 'BBB' rating remains unchanged.

S&P stated, "Mirae Asset Securities' diversified business portfolio supports stable profitability, and it has secured an appropriate level of risk management system, so it is expected to maintain an adequate level of capital over the next 18 to 24 months." It added, "Mirae Asset Securities' risk-adjusted capital (RAC) ratio is also estimated to remain between 7.5% and 8.5%, which is higher than the 7% level that S&P considers adequate." Furthermore, S&P added, "If capital adequacy, improved risk management capabilities, and earnings generation ability continue, the credit rating could be upgraded."