S&P upgrades London Stock Exchange

S&P said it raised the long- and short-term issuer credit ratings on London Stock Exchange Group plc to A/A-1 from A-/A-2 and raised the long- and short-term ratings on LCH Ltd. and LCH SA to AA-/A-1+ from A+/A-1.

All three companies in the group have had diversified and increased profits for a sustained period, S&P said.

The agency said it thinks the group is well placed to maintain its market-leading clearing franchise following Brexit.

The group has achieved profitable diversification across a range of structurally robust, expanding market segments, S&P said.

The stable outlook reflects an expectation that the company will continue to increase profits and expand over the coming 24 months, the agency said, without material deterioration in its strategic position or leverage.

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