S&P ups Raymond James Financial

S&P said it raised its ratings on Raymond James Financial Inc. and its senior unsecured debt to A- from BBB+.

“Our ratings upgrade of RJF incorporates our view of its solid and growing national retail brokerage franchise; good diversification between wealth management, investment banking, and asset management; strong capitalization and low-risk appetite; and supportive funding and liquidity. However, we view the relatively large holdings of illiquid assets (loans) and the credit risk in the commercial and industrial loan book (although well managed and with an excellent track record) as ratings weaknesses compared to higher-rated peers such as Charles Schwab,” the agency said in a press release.

The outlook is stable.

© 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.