S&P affirms London Stock Exchange

Standard & Poor's said it affirmed its A- long-term issuer credit rating on London Stock Exchange Group plc and removed it from CreditWatch, where it had been placed with negative implications on Dec. 9.

The agency said it also affirmed the A-2 short-term rating. The outlook is negative.

On Dec. 9, the agency said, S&P placed the A- long-term issuer credit rating on London Stock Exchange Group on CreditWatch with negative implications due to its material exposure to unsecured credit risk at Italian banks, through its Italian clearinghouse subsidiary.

S&P said it used the CreditWatch period to gain more insight into treasury policy at the Italian clearinghouse, to further explore the risk of a material credit loss arising at the clearinghouse and the potential implications of that for the London Stock Exchange Group, and to consider the significance of those factors to the group's rating.

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