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Fitch affirms Charles Schwab

Fitch Ratings has affirmed Charles Schwab Corp.'s long- and short-term issuer default ratings at A/F1.

The affirmation recognizes Charles Schwab's strong market position in retail brokerage, fund management and advisory services, solid earnings diversity, and scalable business model. The ratings action also reflects the company's appropriate cash flow and balance sheet leverage metrics, as well as its adequate liquidity and interest coverage for its rating category.

The outlook is stable, reflecting the expectation that rising short-term interest rates and continued positive operating leverage will boost Charles Schwab's earnings over an extended period.