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S&P affirms ratings on Raymond James Financial

S&P Global Ratings affirmed the BBB+/A-2 long- and short-term issuer credit ratings and BBB+ senior unsecured debt rating on Raymond James Financial Inc.

The outlook on the long-term issuer credit ratings remains stable, reflecting the rating agency's expectation that the company will maintain performance, capitalization and liquidity.

Among the factors that S&P Global Ratings considered in the ratings are Raymond James Financial's solid retail brokerage franchise, diverse business mix, flexible cost base, and strong liquidity and capital. The rating agency also took into account that the company faces headwinds from its increased appetite for share repurchases, growth in the portion of its brokerage clients' cash balances swept into its own bank and the recent interest rate cuts by the Federal Reserve.

This S&P Global Market Intelligence news article may contain information about credit ratings issued by S&P Global Ratings. Descriptions in this news article were not prepared by S&P Global Ratings.