MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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|
MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Friday, June 24, 2011 S&P Worries About Legg Mason Standard & Poor's has downgraded Legg Mason's [see profile] debt. Dow Jones' Drew FitzGerald reports that the rating agency pushed the mutual fund firm's credit rating down one notch to BBB (two above junk), with a stable outlook. The reason for the move, S&P said, is outflows. "Continued asset outflows in the past three fiscal years have hurt both the company's market position and its financial metrics," S&P analyst Sebnem Caglayan reportedly said. Printed from: MFWire.com/story.asp?s=37157 Copyright 2011, InvestmentWires, Inc. All Rights Reserved |