JPMorgan Outlook Raised by S&P as London Whale Fades
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JPMorgan Chase & Co., still shaken by the fallout from last year’s record trading loss, was upgraded to stable from negative by Standard & Poor’s as the credit firm’s doubts about the “London Whale” episode eased.
The bank “has successfully addressed our concerns regarding risk-management missteps in its chief investment office portfolio,” S&P said in a statement today about JPMorgan’s credit outlook. “Corrective actions should prevent additional issues from arising.”