“The strength and consistency of JPM’s diverse franchise underpin our upgrade, and our ratings on JPM are now among the highest of banks we rate globally,” S&P said in a statement. “JPM’s strong market shares enable it to generate a high level of pricing power, client selection and economies of scale, more so than almost any other international bank.”
JPMorgan Chase & Co.’s credit grade was raised one notch by S&P Global Ratings, which pointed to the bank’s ability to weather economic shifts after years of wresting market share from rivals.
S&P boosted the New York-based parent company’s long-term issuer credit rating to A on Friday, with a stable outlook.
