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S&P revises outlook on Franklin Resources

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S&P revises outlook on Franklin Resources

Standard & Poor's Ratings Services on April 27 revised itsoutlook on Franklin Resources negative from stable and affirmed its AA- long-term and A-1+ short-term issuercredit ratings on the company.

S&P credit analyst Olga Roman said the outlook revision isbased on continued asset outflowsand challenging investment performance, which could weaken the company's businessposition and lead to a downgrade.

While many traditional asset managers were affected by marketvolatility in the past several quarters, the decline in the company's assets undermanagement was substantial due to its large exposures to the energy sector and high-yieldbonds, the rating agency said.

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