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Moody's rates Ameritrade loan Ba1
Moody's Investors Service said it assigned a first-time rating of Ba1 to the pending senior secured bank loan facilities of Ameritrade Holding Corp.
The outlook is stable.
Moody's said that the Ba1 ratings reflect the new TD Ameritrade's strengthened position within the online discount brokerage industry and its low-cost, flexible cost structure.
The agency said that TD Ameritrade will also have significant negative tangible common equity, high double leverage and a modest cash capital position, leaving little cushion against significant stress events.
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