S&P raises LPL

Standard & Poor's said it raised its ratings on LPL Holdings Inc., including raising the counterparty credit rating to B+ from B.

The outlook is stable.

Although LPL remains burdened with considerable debt and low interest coverage, the rating action recognizes the company's modestly improved financial and business profiles, which the agency said it expects it to maintain at least over the medium term.

According to S&P, its ratings on LPL reflect its solid independent adviser franchise, a retrenchment from its previous acquisition strategy, and its aggressive financial profile.

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