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S&P Smiles On Raymond James Financial
Tom Burroughes
9 December 2011
Standard
& Poor's has raised its outlook on wealth management group Raymond
James Financial's credit ratings to stable from negative, saying the
firm’s credit quality has improved, reports said. The credit-ratings firm also noted that Raymond James has reported
increasing profitability in recent years, driven by the diversity of its
business. Raymond James operates in North America and the UK. S&P said Raymond James's credit quality has rebounded this year
after the company saw an increase in non-performing assets from 2008 to
2010. There is a risk that the outlook for Raymond James
could revert to negative if non-performing assets rise above a certain
level or the company takes on a "sizeable" amount of riskier markets
activity, S&P said. Raymond James was not available for comment at the time of going to press.