S&P acts on LSE following completion of Refinitiv takeover

S&P Global Ratings on Feb. 1 removed the A/A-1 long- and short-term issuer credit ratings of London Stock Exchange Group PLC from CreditWatch with negative implications and affirmed them following the closure of the group's takeover of Refinitiv US Holdings Inc.

The outlook on the group is negative, the agency said, reflecting LSE's "ambitious" synergy program and mixed growth prospects in the acquired business. Ratings also cited the risks that the group will face as it integrates Refinitiv while lowering leverage.

LSE closed the $27 billion takeover by the end of January, more than a year since it was first announced. The deal drew scrutiny from competition regulators, particularly in the EU, and LSE was forced to offer consignments, including disposing of Borsa Italiana SpA.

S&P Global Ratings said it considers the contracted sale of the Borsa Italiana group to Euronext NV as highly likely to proceed as the divestment is a condition of the European Commission's approval of the Refinitiv deal.

This S&P Global Market Intelligence news article may contain information about credit ratings issued by S&P Global Ratings. Descriptions in this news article were not prepared by S&P Global Ratings.