NEW YORK (S&P Global Ratings) July 15, 2021--S&P Global Ratings today said it assigned its 'BB-' issue rating to Hudson River Trading LLC's $200 million add-on to its senior secured term loan B due 2028. The company will use the add-on 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 expect that the company will maintain a risk-adjusted capital (RAC) ratio above 7%, in line with previous expectations, despite increasing risks associated with higher trading capital. General Criteria: Group Rating Methodology, July 1, 2019 Criteria Financial Institutions General: Risk-Adjusted Capital Framework Methodology, July 20, 2017 Criteria Financial
