Fitch affirms AllianceBernstein

Fitch Ratings said it affirmed AllianceBernstein LP's long-term issuer default rating at A+ and its short-term issuer default rating at F1.

The outlook is stable.

The agency said the affirmation reflects AllianceBernstein's established position and strong franchise in the investment management space, diverse and broad product mix, strong cash-flow generation capabilities and modest leverage.

Ratings are constrained by the sensitivity of assets under management and fee-based revenues to changes in financial market conditions, Fitch said.

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