S&P: Waddell & Reed view positive

Standard & Poor's said it affirmed the BBB/A-2 counterparty credit rating on Waddell & Reed Financial Inc. and revised the outlook to positive from stable.

"The ratings on WDR are based on the company's franchise as a midsize producer and distributor of asset-management products, and its sound financial profile," S&P analyst Robert B. Hoban Jr. said in a statement.

The outlook reflects the expectation that the company will continue to demonstrate a solid financial profile despite expected continued difficult operating conditions, the agency said.

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