S&P: Oppenheimer negative

Standard & Poor's said it revised the outlook on Oppenheimer Holdings Inc. to negative from stable.

S&P also said it affirmed its B+ issuer credit rating on the company and the B+ rating on the company's senior secured notes.

"The outlook revision reflects our expectation that Oppenheimer's operating results will remain weak in 2012, following its subpar performance in 2011," S&P credit analyst Sebnem Caglayan said in a news release. "The company reported a pretax income margin of 1.9% and an EBITDA margin of 5.7% for 2011."

© 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.