S&P: Broadridge outlook positive

Standard & Poor's said it revised the outlook on Broadridge Financial Solutions Inc. to positive from stable and affirmed its BB+/B counterparty credit rating.

"The outlook revision results primarily from the company's consistently stable operating profitability and focus on debt reduction, as well as its successful navigation of the challenging market environment," S&P analyst Robert Hansen said in a statement.

Counterparty credit ratings reflect the company's strong and established competitive position in the investor communications and securities-processing businesses, which generate highly recurring operating earnings, the agency said.

Ratings also reflect the company's strong interest coverage and relatively modest credit risk, which is partially offset by a relatively high customer concentration in the financial services industry, and the company's relatively limited tenure as a standalone company, the agency noted.

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