Moody's eyes Raymond James for upgrade

Moody's Investors Service said it placed on review for upgrade the Baa1 senior debt and issuer ratings of Raymond James Financial, Inc.

“Moody's said the rating action reflects Raymond James's strong and resilient financial performance, underpinned by its flexible cost structure, a diversified business mix and generally prudent financial policies. In addition, although the firm has agreed to several acquisitions over the past year, these have not added to the firm's debt leverage and the firm has remained highly deliberate in its target selection. As a result, the firm has maintained a solid capital and liquidity profile, and its relatively low leverage and greater scale provides it with a considerable degree of strategic and financial flexibility,” the agency said in a press release.

Moody’s said the review will consider the firm's resiliency to a downturn in market valuations and/or the economy, and Raymond James' financial policies regarding debt-funded acquisitions and shareholder distributions.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.