S&P upgrades Advanta

Standard & Poor's said it raised its ratings on Advanta Corp., including Advanta's long-term counterparty credit rating to B+ from B and preferred stock rating to CCC+ from CCC. S&P also affirmed Advanta's senior unsecured rating at B.

The outlook was revised to stable from positive.

S&P said the rating change and outlook revision were driven by solid leverage metrics and steadily improving earnings in Advanta's core business credit card operations.

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