Raymond James gets Baa2 rating from Moody's

LONDON Aug 12 (Reuters) - Independent U.S. brokerage Raymond James Financial Inc (RJF.N) received a first-time investment-grade rating of Baa2 from Moody's on Wednesday, with a negative outlook.

Moody's Investors Service cited the strength and predictable performance of the company's retail brokerage franchise and its well-capitalised balance sheet.

"The company's key credit weakness -- and the primary reason for the negative outlook -- is the potential loss content embedded in the asset portfolio of RJ Bank, Raymond James's banking subsidiary," the ratings agency said.

The brokerage already has a rating of BBB from Standard & Poor's, which similar to the Moody's rating is two notches above speculative grade. (Editing by Dan Lalor)