HRH Gets S&P Revised Outlook

Standard & Poor's Ratings Services said it has revised the outlook on insurance broker Hilb, Rogal & Hobbs from stable to positive.

The New York-based rating service also affirmed the Richmond, Va.-based insurance broker's credit rating at "double-B."

"The revised outlook reflects HRH's continued progress in building a more cohesive infrastructure, with greater productivity allowing the company to generate noticeable organic revenue and consistently strong margins," said S&P credit analyst Tracy Dolin in a statement.

S&P went on to say that it appears the firm has a focused acquisition strategy and is working to integrate earlier acquisitions, build its existing sales force and improve organic growth.

HRH, S&P said, has shown healthy operating results and cash flow, improved financial flexibility, and a clear business model. It added that the firm will continue to make "opportunistic acquisitions," but it is less reliant on them to achieve growth.