S&P rates Hudson River Trading loan BB-

S&P said it assigned its BB- issue rating to Hudson River Trading LLC's new senior secured term loan B due 2028. This loan refinances the firm's $1.225 billion in term loans, also rated BB-, and adds incremental debt.

The company will use the remaining proceeds for general corporate purposes and to increase trading capital for its market-making business.

“The issue has no impact on the issuer credit rating on Hudson River because we see it as opportunistic,” S&P said in a press release.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.