S&P lifts Oppenheimer view to positive

Standard & Poor's said it revised the outlook on the long-term issuer credit rating on Oppenheimer Holdings Inc. to positive from stable.

The agency also said it affirmed the company's B counterparty credit and senior secured debt ratings.

The outlook revision is due to improvements in Oppenheimer's financial risk profile, S&P said.

The company's pre-tax income profitability improved in 2013 to 4.3% from a break-even in 2012 and 1.9% in 2011, the agency said.

The growth was largely attributed to the extended bull market in the U.S. stock market in 2013, S&P said.

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