TRIS Rating Co., Ltd. has downgraded the company rating of TSFC Securities Ltd. (TSFC) to “D” from “C” and has removed the “CreditAlert” with “negative” implication from TSFC’s rating.
TRIS Rating said that the downgrade is based upon TSFC’s payment default on bills of exchange due on 17 December 2008. -- End
TSFC Securities Ltd. (TSFC)
Company Rating: Downgraded to “D” from “C”
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