S&P Global Ratings on July 5 downgraded Italy-based Nexi Payments SpA's long-term issuer credit rating to B+ from BB-, removed the rating from CreditWatch with negative implications, and subsequently withdrew the ratings at the company's request.

The outlook on the rating was stable at the time of withdrawal. The actions come after Mercury UK Holdco Ltd. completed the process of carving out Nexi Payments and transferred it to unit Latino Italy SpA, renamed Nexi, the agency noted.

This S&P Global Market Intelligence news article may contain information about credit ratings issued by S&P Global Ratings, a separately managed division of S&P Global. Descriptions in this news article were not prepared by S&P Global Ratings. The original S&P Global Ratings documents referred to in this news brief can be found here.