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Moody's upgrades Lazard Group's corporate family rating

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Moody's upgrades Lazard Group's corporate family rating

Moody's on May 3 upgraded the senior unsecured debt ratingon Lazard Group LLCto Baa3 from Ba1, completing a review initiated Feb. 12.

The outlook is stable.

The rating agency also withdrew the Ba1 corporate familyrating as it typically applies to speculative grade companies.

Moody's said the upgrade takes into account the continueddiscipline in the company's compensation practices, which, along with strong revenues,have improved its credit metrics.

LazardLtd indirectly held 100% of all outstanding Lazard Group commonmembership interests as of March 31.