Moody’s changes Oppenheimer to positive

Moody's Investors Service said it affirmed Oppenheimer Holdings, Inc.'s B2 corporate family rating and B2 senior secured debt rating, and changed the outlook to positive from stable.

Moody's said the change to a positive outlook reflects the potential for Oppenheimer's credit strength to improve over the next year. Oppenheimer has invested substantial resources with the objective of improving its compliance function and financial advisor oversight, and, if successful, this would alter its post-crisis trend of compliance failures and incurrence of significant fines and penalties, the agency said.

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