S&P Global Ratings has affirmed its BBB- issuer credit and senior unsecured debt ratings on Cantor Fitzgerald LP and affiliates BGC Partners Inc. and GFI Group Inc. The rating agency removed the ratings from CreditWatch with negative implications.
The outlook on each entity is stable.
The rating agency said the company's risk-adjusted capitalization ratio should be above 9% thanks to its efforts to raise capital.
The stable outlook reflects the rating agency's expectation that the company will complete its additional planned capital raises in the second quarter and will maintain a consolidated risk-adjusted capitalization ratio over 9%.
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.