Hudson River Trading LLC's Senior Secured Bank Loan Rated 'BB-'

NEW YORK (S&P Global Ratings) May 14, 2019--S&P Global Ratings today said it assigned its 'BB-' issue rating on Hudson River Trading LLC's $498 million senior secured term loan B due 2025. This amends the firm's existing term loan and adds an incremental $100 million. The company will use the additional proceeds for general corporate purposes and trading capital for its market-making business. We see the issuance as opportunistic and expect the firm to deploy the additional trading over time. The issue has no impact on the issuer credit rating on Hudson River because we expect its risk-adjusted capital ratio to remain in line with the current ratings at above 11%. Criteria Financial Institutions General: Risk-Adjusted Capital Framework

...May 14, 2019 NEW YORK (S&P Global Ratings) May 14, 2019--S&P Global Ratings today said it assigned its '##-' issue rating on Hudson River Trading LLC's $498 million senior secured term loan B due 2025. This amends the firm's existing term loan and adds an incremental $100 million. The company will use the additional proceeds for general corporate purposes and trading capital for its market-making business. We see the issuance as opportunistic and expect the firm to deploy the additional trading over time. The issue has no impact on the issuer credit rating on Hudson River because we expect its risk-adjusted capital ratio to remain in line with the current ratings at above 11%....

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