Despite its position on the rating watch negative list, Marsh & McLennan, the parent company of maligned fund giant Putnam Investments, received a senior debt rating of A+ from Fitch. The company's short-term rating was placed at F1.

The ratings came even amid Putnam profit declines. "Although equity market volatility and operating problems depressed assets-under-management growth over recent years and caused Putnam to realize a material decline in operating profits," Fitch said in a release, "MMC's overall earnings have grown given very strong results in the insurance brokerage operation."

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