National Securities Clearing Corp.'s $1 Billion Senior Notes Rated 'AA+' - S&P Global Ratings’ Credit Research

National Securities Clearing Corp.'s $1 Billion Senior Notes Rated 'AA+'

National Securities Clearing Corp.'s $1 Billion Senior Notes Rated 'AA+' - S&P Global Ratings’ Credit Research
National Securities Clearing Corp.'s $1 Billion Senior Notes Rated 'AA+'
Published May 22, 2023
3 pages (1212 words) — Published May 22, 2023
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Abstract:

TORONTO (S&P Global Ratings) May 22, 2023--S&P Global Ratings today said that it assigned its 'AA+' issue-level rating to National Securities Clearing Corp.'s (NSCC; AA+/Stable/A-1+) $1 billion senior notes maturing in 2025 and 2028. The rating is in line with our 'AA+' long-term issuer credit rating on NSCC. The proceeds from these notes will be used to refinance the $1 billion senior notes maturing in December 2023. These notes constitute liquid resources that will be held in bank deposits, predominantly at the Federal Reserve Bank of New York, to facilitate settlement in the event a member defaults. Given that the company cannot use these debt proceeds for general corporate purposes, we view the transaction as leverage neutral. In addition, we

  
Brief Excerpt:

...2990036 | 300128896 action can be found on S&P Global Ratings' public website at www.standardandpoors.com. Use the Ratings search box located in the left column....

  
Report Type:

Ratings Action

Ticker
15236Z
Issuer
National Securities Clearing Corp.
GICS
Asset Management & Custody Banks (40203010)
Sector
Global Issuers
Country
United States
Region
United States
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "National Securities Clearing Corp.'s $1 Billion Senior Notes Rated 'AA+'" May 22, 2023. Alacra Store. May 23, 2025. <http://www.alacrastore.com/s-and-p-credit-research/National-Securities-Clearing-Corp-s-1-Billion-Senior-Notes-Rated-AA-2990036>
  
APA:
S&P Global Ratings’ Credit Research. (). National Securities Clearing Corp.'s $1 Billion Senior Notes Rated 'AA+' May 22, 2023. New York, NY: Alacra Store. Retrieved May 23, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/National-Securities-Clearing-Corp-s-1-Billion-Senior-Notes-Rated-AA-2990036>
  
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