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Prospect News home > News index > List of issuers L > Headlines for Lazard Group LLC > News item |
Fitch ups Lazard to positive
Fitch Ratings said it affirmed Lazard Group LLC's issuer default rating and long-term senior debt rating at BBB-.
The outlook was revised to positive from stable.
The rating action reflects Lazard's improved financial profile, specifically its reduced financial leverage and increased debt coverage measures, the agency said. The company's enhanced financial position is the result of additions to its equity base through share-based incentive compensation awards, equity offering post-IPO and improved earnings generation.
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