S&P reviews Nexi, changes view

S&P said it placed its long-term issuer credit rating on Nexi SpA on CreditWatch with developing implications.

The agency also placed the BB- long-term rating on Nexi Cartasi on CreditWatch negative.

At the same time, S&P revised to stable from negative the outlook on Mercury Bond Co.

The agency also affirmed the B/B long- and short-term ratings on Mercury and the B long-term issue rating on its outstanding payment-in-kind toggle notes.

Mercury UK Holdco Ltd. announced that it will reorganize the group to separate its technological and digital payment activities from those that require a specific banking license.

S&P said the CreditWatch placement reflects an opinion that the reorganization is likely to significantly change the business profile and financial profile of the existing banking group from July 11, when the new entity comes into operation.

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