NEW YORK (S&P Global Ratings) March 3, 2021--S&P Global Ratings today said it assigned its 'BB-' issue rating to Hudson River Trading LLC's new senior secured term loan B due 2028. This refinances the firm's existing $1.225 billion in term loans and adds incremental debt. The company will use the additional proceeds for general corporate purposes and to increase trading capital for its market-making business. The issue has no impact on the issuer credit rating on Hudson River because we see it as opportunistic. We expect the firm to deploy the additional trading capital prudently over time, which is critical to maintaining its risk-adjusted capital ratio above 7% to support current ratings. General Criteria: Group Rating Methodology, July 1, 2019
