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S&P affirms Lazard Group

S&P Global Ratings has affirmed its A- issuer credit rating on Lazard Group LLC and A- issue rating on the company's senior unsecured notes.

The ratings action takes into account Lazard Group's continued strong performance across its financial advisory and asset management segments as well as its low leverage.

The outlook remains stable as S&P expects Lazard Group to achieve upper-single-digit to low-double-digit EBITDA growth in 2017 followed by a stable to slightly down year in 2018. The outlook also reflects the rating agency's expectation that the company will maintain low leverage in 2017 through 2018.

S&P Global Ratings and S&P Global Market Intelligence are owned by S&P Global Inc.