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S&P places Nexi's ratings on CreditWatch Positive

S&P Global Ratings on March 20 placed Nexi SpA's B+ long-term issuer credit and senior secured issue ratings on CreditWatch with positive implications, following the Italian payment services firm's announcement that it intends to float on the Italian stock exchange.

The rating agency said the placement reflects its view that Nexi's financial risk profile could improve following the move, as the IPO proceeds could help reduce the company's gross debt to about €2 billion from €2.6 billion.

Ratings expects to resolve the placement within the next few months, upon completion of the IPO.

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.