S&P lifts Gamco Investors view to stable

S&P said it revised its outlook on Gamco Investors Inc. to stable from negative and affirmed its BBB-/A-3 issuer credit ratings and BBB- senior unsecured debt rating.

“The outlook revision reflects that we forecast Gamco’s leverage to decline as a result of further debt repayments, combined with a growing cash balance aided by the deferred compensation agreement signed with Mario Gabelli, the company's CEO,” S&P said in a news release. “In our view, this agreement provides a significant cash flow cushion to pressures exhibited in revenue generation.”

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