S&P lifts Lazard view to positive

Standard & Poor's said it revised its outlook on Lazard Group LLC to positive from stable and affirmed all ratings on the company, including the BBB- counterparty credit rating.

The positive outlook reflects the agency's opinion that Lazard's operating performance will improve over the next several quarters, debt leverage and interest coverage metrics will improve and the firm's cash flow will strengthen, permitting greater internal capital generation.

S&P said the ratings on Lazard are based on the group's well-established and broadly diversified franchise, stable investment management fee income stream and countercyclical advisory business model.

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