S&P affirms Oppenheimer

S&P said it affirmed its B+ issuer and issue-level credit ratings on Oppenheimer Holdings Inc. on better prospective performance.

The outlook was revised to positive on reduced regulatory and trading risks.

The firm “has made significant progress toward reducing its auction rate securities exposure, and obligations to repurchase these securities,” S&P said in a news release.

The firm has also made significant improvements in its risk and liquidity management.

S&P said it could raise its rating if the firm maintains capitalization and liquidity while it improves business performance and reduces auction rate securities exposures.

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