S&P: Waddell & Reed view to negative

Standard & Poor's said it revised its outlook on Waddell & Reed Financial Inc. to negative from stable and affirmed the BBB+ long-term issuer credit and senior unsecured debt ratings.

The agency also affirmed the A-2 short-term issuer credit rating.

"The outlook revision primarily reflects the company's recent weak investment performance, which has led to outflows in its Asset Strategy and High Income funds," S&P credit analyst Trevor Martin said in a news release.

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