Moody’s Investors Service said risks from changes in management contributed to the negative outlook on Waddell & Reed Financial’s credit rating. CEO Hank Herrmann is retiring at the end of July.
Moody’s Investors Service said risks from changes in management contributed to the negative outlook on Waddell & Reed Financial’s credit rating. CEO Hank Herrmann is retiring at the end of July. File photo The Kansas City Star
Moody’s Investors Service said risks from changes in management contributed to the negative outlook on Waddell & Reed Financial’s credit rating. CEO Hank Herrmann is retiring at the end of July. File photo The Kansas City Star

Waddell & Reed’s credit rating is lowered close to junk bond status

June 10, 2016 12:04 PM