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S&P: Gamco outlook negative
Standard & Poor's said it revised the outlook on Gamco Investors Inc. to negative from stable and affirmed its BBB/A-2 counterparty credit rating.
"Our ratings on Gamco reflect the company's position as an established, midsize asset manager of retail mutual funds, separate accounts and investment partnerships for high-net-worth individuals and institutional clients," S&P analyst Chris Cary said in a statement.
Ratings also consider Gamco's financial profile, which is characterized by a sound balance sheet, but weakened cash flow and interest coverage, the agency noted.
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