Legg Mason, Inc. -- Moody's affirms Legg Mason Inc rating; moves outlook to stable from negative

New York, August 27, 2013 -- Moody's Investors Service today affirmed Legg Mason, Inc.'s (Legg Mason, NYSE: LM) senior unsecured debt rating at Baa1 and revised the rating outlook to stable from negative. The rating outlook change reflects the improvement Legg Mason has experienced over the past half year in curbing net outflows. In addition, the company has increased its focus on investment performance and operating efficiency which we believe will continue to contribute to the stabilization of Legg Mason's results as organizational changes have been implemented and senior management stabilized.

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