Moody's on April 7 affirmed the Baa1 senior unsecured ratingof Broadridge Financial SolutionsInc., with a stable outlook.

The affirmation reflects Broadridge Financial's steady, recurringfee-based revenue and its leading position in proxy and other investor communicationservices, Moody's said. Despite a steady revenue model, the company's business profilehas relatively high customer and geographic concentration in the financial servicesindustry, which is exposed to increased regulation and the possibility for furtherconsolidation, the rating agency said.

The stable outlook is based on Moody's expectation that the companywill generate mid-single-digit revenue growth through fiscal year 2017, with operatingmargin percentages in the high teens.