...April 9, 2019 NEW YORK (S&P Global Ratings) April 9, 2019--S&P Global Ratings today assigned its '##-' issue rating on Jane Street Group LLC's $420 million add-on to its senior secured term loan B due 2022. This debt issue is incremental to the firm's existing approximately $1 billion term loan B, which will remain outstanding. The incremental debt provides additional stable funding, and we expect the company to use the proceeds to further expand trading capital and support liquidity. While we expect that this will increase trading book market risk, it has no effect on our issuer credit rating on Jane Street. Retention of very strong earnings in 2018 substantially built up the firm's capitalization, which it has been deploying to support the expansion of its trading operations. We believe capital is sufficient to offset the expected increase in trading book risk and maintain an S&P Global Ratings risk-adjusted capital ratio above 9%, in line with our current ratings expectations....
