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Moody's confirms London Stock Exchange at Baa2
Moody's Investors Service said it affirmed the Baa2 senior ratings of London Stock Exchange Group following the group's announcement that it reached an agreement to acquire a majority stake in LCH Clearnet Group Ltd.
The outlook remains negative.
Moody's said the acquisition could enhance the diversification of London Stock Exchange's earnings, which would be a credit positive.
As it stands today, London Stock Exchange has only a modest presence in clearing and derivatives, while LCH Clearnet is one of the world's leading clearinghouses in terms of volumes cleared and product diversification, the agency said.
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