Asset manager Janus Capital Group has significantly bolstered its financial position over the past 12 months, causing rating agency Standard & Poor’s to boost its rating outlook from negative to positive.
Standard & Poor’s Ratings Services said today that it has revised its outlook on Janus Capital, citing its improving financials over the past year. “The outlook revision on Denver-based Janus Capital Group Inc. reflects the recent improvements in the company’s financial risk profile,” said Standard & Poor’s credit analyst Olga Roman.
S&P reports that, despite continued asset outflows and negative performance fees, Janus has increased its revenue by about 9%
year-over-year and improved its profitability during 2014. Additionally, the company continued to deleverage its balance sheet.
The rating agency says that the positive outlook reflects its expectation that Janus will continue to curtail its net asset outflows and improve its financial risk profile. If that trend continues, S&P says that it could upgrade its ratings on the company.