S&P rates Hudson River loan BB-

S&P said it assigned a BB- rating on Hudson River Trading LLC's $498 million senior secured term loan B due 2025.

This amends the company's existing term loan and adds an incremental $100 million, S&P said.

The company will use the additional proceeds for general corporate purposes and trading capital for its market-making business, the agency said.

S&P said it see the issuance as opportunistic and expects the firm to deploy the additional trading over time.

The issue has no impact on the issuer credit rating on Hudson River because the agency said it expects risk-adjusted capital ratio to remain in line with the current ratings at higher than 11%.

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