J.P. Morgan Securities, LLC receives AA-/F1+ rating
Aug 03, 2011
New York — J.P. Morgan announced today that credit rating agency Fitch Ratings has rated J.P. Morgan Securities LLC (JPMS), the firm’s primary trading U.S. Broker-Dealer and Futures Commission Merchant, as AA-/F1+. The decision follow’s on Standard & Poor’s earlier AA-/A-1+ rating for the business.
JPMS converted from a Delaware corporation to a limited liability corporation as part of a routine internal restructuring in September 2010. The conversion was unrelated to any changes in J.P. Morgan’s business or to financial regulatory reform. J.P. Morgan Futures, Inc. then merged with the broker-dealer on June 1, 2011, creating a combined Broker-Dealer/Futures Commission Merchant.