Moody's affirms Franklin Resources' ratings, upgrades Legg Mason following acquisition
Rating Action: Moody's affirms Franklin Resources' ratings, upgrades Legg Mason following acquisition. Global Credit Research- 03 Aug 2020. New York, August 03, 2020-- Moody's Investors Service, has affirmed Franklin Resources, Inc.' s A2 senior unsecured debt rating following the conclusion of its acquisition of Legg Mason.Franklin Resources is a holding company that, together with its subsidiaries, operates as Franklin Templeton?. The company is an investment management organization that provides investment management and related services to retail, institutional and investors in jurisdictions worldwide through its investment products. The company's investment products include its sponsored funds, as well as institutional and separate accounts, and sub-advised products. The company's funds include registered and unregistered funds. The company's services include fund administration, sales and distribution, and shareholder servicing. The company also provides sub-advisory services to certain investment products sponsored by other companies.
Legg Mason is a holding company. Through its subsidiaries, the company is an asset management company that provides investment management and related products and services. The company's investment advisory services include discretionary and non-discretionary management of separate investment accounts for institutional and individual investors. The company's investment products include proprietary mutual funds ranging from money market and other liquidity products to fixed income, equity and alternative funds managed in various investment styles. The company also provides other domestic and offshore funds to both retail and institutional investors, privately placed real estate funds, hedge funds, and funds-of-hedge funds.
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