JPMorgan’s (JPM) outlook has been upgraded to positive from stable by S&P Global Ratings. However, the A-/A-2 ratings of the holding company and the A+/A-1 operating company ratings have been kept unchanged.The strength of JPM’s extensive lending-to-trading business, which has outperformed its peers, is the primary reason behind the outlook upgrade. In 2023, the company’s performance exceeded most of its peers, reflecting its business strength and prudent balance sheet management. The rating agency believes ...