Fitch affirms Man Group

Fitch Ratings said it affirmed Man Group plc's A- long-term rating and BBB+ $610 million subordinated debt rating.

The outlook is stable.

The rating action follows Monday's announcement by Man that it has entered into a nondisclosure agreement to enable it to participate in due diligence ahead of the auction of Refco Inc. on Nov. 9, the agency said.

Fitch said a successful bid would likely have no affect on Man's ratings.

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