Moody’s lifts KCG notes, view positive

Moody's Investors Service said it assigned a positive outlook and affirmed the B1 corporate family rating of KCG Holdings, Inc.

KCG's secured notes were upgraded to B1 from B2 and were also assigned a positive outlook.

Moody’s said the notes upgrade reflects the full repayment of KCG's first-lien credit facility. The repayment has eliminated the structural subordination of the secured notes, thereby reducing their severity of loss if a default were to occur.

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