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JCR affirms Osaka Securities Finance's ratings, ups outlook.

BANKING AND CREDIT NEWS-23 March 2010-JCR affirms Osaka Securities Finance's ratings, ups outlook(C)1994-2010 M2 COMMUNICATIONS http://www.m2.com

23 March 2010 - JCR confirmed Tuesday its A- rating on the senior debts and the J-1 rating on the commercial paper programme of Japanese firm Osaka Securities Finance Co Ltd (TYO:8512), engaged in the provision of security financing and information processing services.

Simultaneously, the agency changed the ratings' outlook to "stable" from "negative".

Osaka Securities Finance is a securities finance corporation set forth under the Financial Instruments and Exchange Act and plays a role in supporting the Japanese securities market by way of engaging in securities related loans, repo transaction, etc. in addition to the loan transaction at Osaka Stock Exchange.

The ratings on the company reflect its position in the securities market in Osaka, its stable record of operating performance despite a low level showing that it has been in black since its foundation in terms of ordinary profit and the retention of asset quality and liquidity in its operations centering on the loan transactions.

On the other hand, it has problems in growing its working balance and profit growth, and is susceptible to the financial market condition.

Given the reduced uncertainty about the financial markets in the past one year and its increased risk management system, JCR changed the rating outlook from "negative" to "stable."

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Publication:M2 Banking & Credit News (BCN)
Date:Mar 23, 2010
Words:240
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