S&P ups Waddell & Reed outlook to stable

Standard & Poor's said it revised its outlook on Waddell & Reed Financial Inc. to stable from negative.

At the same time, the agency said it affirmed its BBB/A-2 counterparty credit rating on Waddell & Reed.

The outlook revision reflects sustainable improvements in the Advisor channel that indicate the potential for improved gross sales and net flows, increased revenue and earnings, strength of its Wholesale Channel, improved capital and liquidity and growth of its assets under management, the agency said.

According to S&P, the ratings on Waddell & Reed are based on the company's industry position as a well-established, midsize asset management company with strong investment performance and low redemption rates.

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