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Moody’s could lift E*Trade
Moody's Investors Service said it placed E*Trade Financial Corp.’s and E*Trade Bank’s ratings on review for upgrade.
The agency said E*Trade’s credit profile has been benefiting from the rising interest rate environment as well as the firm's recent strategy to expand its balance sheet, funded with cash sweep deposits.
E*Trade is strongly positioned to continue benefiting from higher rates which helped the firm offset lower commission income following a pricing cut in early 2017.
The agency also noted that E*Trade’s strengthened credit profile reflects the consistent execution of the firm's strategy to focus on growth at the brokerage firm.
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