S&P lifts Schwab

Standard & Poor's said it raised the counterparty credit rating on Charles Schwab Corp. to A/A-1 from A-/A-2.

The outlook was revised to stable from positive.

The upgrade is driven by the strengthening of Schwab's market position, operating earnings levels and core business performance, the agency said. It also reflects the company's strong liquidity and capital adequacy.

Ratings incorporate the inherent cyclicality of earnings that may result from typical varying investment environments, S&P said.

The revised ratings also reflect Schwab's strong national franchise as one of the largest retail brokerage firms, the agency said.

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