Moody's: Lazard to positive

Moody's Investors Service said it changed to positive from stable the outlook on Lazard Group LLC.

Moody's also said it assigned it a corporate family rating of Ba2.

Lazard Group is an intermediate holding company of Lazard Ltd.

The positive outlook reflects the fact that Lazard is beginning to evidence better compensation discipline throughout the industry cycle and an expectation that this discipline will be maintained in a weaker revenue environment, Moody's said.

The agency said it expects that investment banking advisory pipelines will be reduced for the second half of fiscal 2011 over the first half, which reflects continued uncertainties about the global economy.

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