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Kroll affirms South Street Securities ratings

Kroll Bond Rating Agency affirmed South Street Securities LLC's issuer rating of BBB and short-term issuer rating of K2.

The outlook for the long-term issuer rating is stable.

Kroll pointed out the expertise of its management team and the strength of its board directors, noting some of them are "experienced and well-connected Wall Street veterans," in affirming the ratings. The rating agency also considers South Street's risk management to be "very comprehensive" and it praised its low risk and highly liquid balance sheet, which is supported by U.S. government securities.

Kroll said the company's balance sheet is perhaps "the most important credit strength underpinning the ratings."