Moody's upgraded Cboe Global Markets Inc.'s senior unsecured debt ratings to A3 from Baa1.
The outlook of the ratings is stable. The rating agency withdrew Cboe Global Markets's instrument-level outlooks for its business reasons.
In upgrading the ratings, Moody's pointed out the company's strong financial profile, cash flow generating capacity and the success of its ongoing integration of Bats Global Markets Holdings Inc. The rating agency said that Cboe Global Markets improved its leverage due to debt pay-downs, organic growth and cost savings from the acquisition.
Moody's said the company's debt leverage will be maintained around its existing level.