Moody’s turns Jefferies outlook to stable

Moody’s Investors Service said it changed its outlook for Jefferies Finance LLC (JFIN) to stable from positive and affirmed its ratings, including the Ba1 senior secured rating on its revolver and B1 senior unsecured bond rating.

“The change in JFIN's outlook to stable from positive reflects the firm's weak performance in 2022 amid the ongoing challenging conditions within the leveraged finance market and broadly for G-20 economies,” Moody’s said in a press release.

The agency added it anticipates JFIN will maintain its creditworthiness in this challenging environment, given its long-standing underwriting and credit disciplines, reserve build for syndication and credit risks during 2022, emphasis on first-lien exposures, and role as a platform for its owners and strategic partners to participate in the leveraged finance market.

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