Fitch rates Scottrade BBB

Fitch Ratings said it assigned a BBB long-term issuer default rating to Scottrade Financial Services, Inc.

The outlook is negative.

The rating recognizes Scottrade's track record in providing reliable and low cost online trading to the self-directed individual investor, the agency said.

It also considers the company's good operating performance in a difficult economic environment, a balance sheet with relatively low risk assets, a strong branch network, ability to generate new accounts at low cost and a fairly sticky account base, the agency noted.

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