S&P ups Oppenheimer

S&P said it raised its ratings on Oppenheimer Holdings Inc. and its senior secured notes to BB- from B+.

“The upgrade reflects our view that notwithstanding uncertainty from the pandemic, Oppenheimer's performance over the last 12 months was much stronger than we initially expected. The upgrade also reflects our expectation that the company's RAC ratio should remain solidly above 10% over the next year,” S&P said in a press release.

The outlook is stable.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.