Fitch Ratings affirmed the BB- long-term issuer default ratings of Virtu Financial LLC and its debt-issuing subsidiaries VFH Parent LLC, Impala Borrower LLC and Orchestra Co-Issuer Inc.
The rating agency also affirmed the BB- senior secured first-lien debt ratings of VFH Parent and Impala Borrower, and the B+ senior secured second-lien debt rating of VFH Parent.
The ratings outlook remains negative, reflecting Fitch's view of increased execution risk associated with Virtu Financial Inc.'s acquisition of Investment Technology Group Inc. earlier this year in terms of integration, achievement of envisioned profitability levels and deleveraging, the rating agency said.
