Moody’s: Waddell & Reed view to negative

Moody's Investors Service said it affirmed the Baa2 issuer rating of Waddell & Reed Financial, Inc. and changed the outlook to negative from stable.

Moody’s said the change in outlook is driven by a combination of factors including net outflows over the last several quarters resulting from underperformance in Waddell & Reed's flagship fund and a pending regulatory change, which could put pressure on the company's business model.

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