Fitch keeps NEX on watch

Fitch Ratings said it maintained NEX Group plc's and NEX Group Holdings plc's BBB long-term issuer default ratings and F3 short-term issuer default ratings on rating watch positive.

The agency placed the ratings on rating watch positive in March following CME Group Inc.'s announcement that it agreed to acquire NEX.

The transaction is expected to close before year-end.

Fitch said the rating watch placement reflects an expectation that upon transaction completion NEX's ratings will likely be driven by institutional support from CME, whose creditworthiness is materially stronger than NEX's.

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