Global credit ratings agency S&P Global Ratings revised its credit rating on South Korean brokerage Mirae Asset Securities from negative to stable Tuesday, assigning the firm’s rating of BBB in the long term.

S&P said its revised rating reflected its expectation that the local securities firm will likely to improve and maintain an adequate capital buffer over the next 18-24 months.

“Mirae Asset Securities’ diversified business lines underpin its largely stable earnings. ... We expect the largest securities firm in Korea to continue to benefit from strong domestic stock market turnover,” S&P said.

The global credit rating agency further added that its risk adjusted capital ratio for Mirae Asset to remain at 7.5-8.5 percent over the next one to two years, above the 7 percent threshold for an adequate capital, leverage and earnings assessment.

By Jie Ye-eun (yeeun@heraldcorp.com)