Raymond James' Ratings Put On Review For Upgrade By Moody's
Zacks Investment Research | Apr 18, 2017 09:30PM ET
The Baa2 long-term issuer and Baa2 senior unsecured regular bond/debenture ratings of Raymond James Financial, Inc. (NYSE:RJF) were recently placed on review by Moody's Investors Service, the rating services arm of Moody’s Corporation (NYSE:MCO) , for a possible upgrade. The company’s outlook, which is currently positive, has also been placed under review.
The ratings will be upgraded if Moody’s concludes that the company’s rapid loan growth will not affect its financial performance. Moreover, the rating agency will also review the company’s risk management and compliance capabilities.
Raymond James’ strong and diversified business model, which has led to superior earnings performance so far, has probably led Moody’s to consider an upgrade.
We note that the company recently announced a $150 million compliance matter settlement. In addition to this, its risk management and compliance functions in brokerage, bank and capital markets division, and its credit strength will also be considered in the review process.
Looking at Raymond James’ price performance, the stock gained 24.3% in the last six months, outperforming the 16.4% gain for the Zacks categorized Original post
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