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NEW YORK—Standard & Poor’s Ratings Service has revised its outlook on Marsh & McLennan Cos. Inc. to “stable” from “negative,” S&P announced Friday.
“The outlook revision reflects our improved view of MMC’s prospective earnings,” said Laline Carvalho, S&P credit analyst, in a statement announcing the change.
“After several years of restructuring the business and a number of legal and regulatory settlements, MMC’s operating results began showing more significant improvement in the fourth quarter of 2010,” according to the statement.
In addition, management efforts to refine the firm’s strategy and “lower the operational and financial risks of the organization in recent years should help MMC produce improved operating results going forward.”
Also, S&P affirmed its “BBB-” long-term and “A-3” short-term counterparty credit ratings on Marsh.
NEW YORK—Marsh & McLennan Cos. Inc. reported revenue of $8.62 billion for the first nine months of 2011, up 10.9% from $7.77 billion in the same period last year.