Fitch affirms Broadridge

Fitch Ratings said it affirmed Broadridge Financial Solutions, Inc.'s issuer default rating at BBB+, senior unsecured revolving credit facility at BBB+ and senior unsecured debt at BBB+.

The ratings are supported by Broadridge's leading share in the proxy distribution market, which faces minimal competitive threats and pricing that is largely insulated by SEC regulations, Fitch said.

But, changing regulations could negatively impact Broadridge's business, particularly related to the proxy distribution business, the agency said. And Broadridge's acquisition growth strategy carries integration and execution risks, Fitch added.

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