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Fitch rates Janus Henderson BBB
Fitch Ratings said it assigned a long-term issuer default rating of BBB to Janus Henderson Group plc.
The outlook is positive.
Janus is the new parent company formed after the all-stock merger between Janus Capital Group Inc. and Henderson Group plc.
The merger transaction closed May 30, Fitch said.
Janus Henderson has guaranteed Janus' outstanding unsecured term debt and convertible notes, Fitch said.
The agency also said it affirmed the ratings for the unsecured and convertible notes at BBB.
The ratings reflect the company's modest, albeit improving, franchise in the United States and United Kingdom fund-management space, adequate scale, good geographical and product diversification and low leverage, Fitch said.
The ratings are constrained by the relatively weak client flows at Janus and Henderson in 2016 and the first quarter of 2017, the agency said.
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