S&P ups Franklin

Standard & Poor's raised its long- and short-term ratings on Franklin Resources Inc. to AA- and A-1+ from A+ and A-1, respectively.

The outlook is stable.

The ratings action is due to Franklin's consistently sound operating performance, which has remained solid despite ongoing volatility in global equity and credit markets, as well as a significantly improved balance sheet profile, characterized by strong liquidity, very low debt leverage, and sound capitalization, the agency said.

S&P noted that the ratings on Franklin reflect its strong franchise, which is underpinned by its global positioning both geographically and in terms of asset class and distribution capability.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.