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S&P upgrades E*Trade
Standard & Poor's said it raised its long-term issuer credit and senior unsecured debt ratings on E*Trade Financial Corp. to B from B-.
The agency also raised its long-term issuer credit and certificate of deposit ratings on E*Trade Bank to BB- from B+.
In addition, S&P affirmed its B short-term rating on E*Trade Bank.
The outlooks are stable.
"The upgrades reflect the improvements in E*Trade’s liquidity position during the past nine months and the prospect for further improvement over the next 12 months," S&P credit analyst Charles Rauch said in a news release.
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