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Fitch publishes issuer default ratings of UK's IG Group, unit

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Fitch publishes issuer default ratings of UK's IG Group, unit

Fitch Ratings on Oct. 3 published the BBB- long-term issuer default ratings of U.K.-based financial services provider IG Group Holdings PLC and unit IG Markets Ltd., with stable outlooks.

The credit profiles of both entities are correlated. Their ratings reflect IG Group's strong profitability, capitalization and well-established franchise.

The group's concentration on over-the-counter leveraged products, primarily contracts for difference, means it lacks diversification, which is a constraining factor in its ratings, Fitch said.