Jane Street Group LLC Senior Secured Term Loan Rated 'BB-'

NEW YORK (S&P Global Ratings) Aug. 8, 2018--S&P Global Ratings said today that it has assigned its 'BB-' issue-level rating on Jane Street Group LLC's new $210 million senior secured term loan B due 2022. This debt issue is incremental to the firm's existing $800 million term loan B, which will remain outstanding. The incremental debt provides additional stable funding, and we expect the company to use the proceeds to expand trading capital and support liquidity. While we expect that this will increase trading book market risk, it has no affect on our issuer credit rating on Jane Street. The firm's capitalization has improved substantially over the last year, particularly from the retention of very strong earnings in the first

...NEW YORK (S&P Global Ratings) Aug. 8, 2018--S&P Global Ratings said today that it has assigned its '##-' issue-level rating on Jane Street Group LLC's new $210 million senior secured term loan B due 2022. This debt issue is incremental to the firm's existing $800 million term loan B, which will remain outstanding. The incremental debt provides additional stable funding, and we expect the company to use the proceeds to expand trading capital and support liquidity. While we expect that this will increase trading book market risk, it has no affect on our issuer credit rating on Jane Street. The firm's capitalization has improved substantially over the last year, particularly from the retention of very strong earnings in the first half of 2018. We believe that it is sufficient to offset the expected increase in trading book risk and maintain an S&P Global Ratings risk-adjusted capital ratio in line with current ratings. RELATED CRITERIA + Criteria - Financial Institutions - General: Risk-Adjusted...

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