We are assigning our 'BBB-' long-term and 'A-3' short-term issuer credit ratings to U.K.-based commodities broker Marex Spectron Group Ltd. The 'bbb' group credit profile (GCP) balances our view of Marex Spectron's strong market position in a relatively small niche of commodities brokerage with its solid capitalization on a consolidated basis and limited risk appetite. The stable outlook reflects our expectation that Marex Spectron will retain its position as a leading global commodities broker, adequate profitability, and conservative risk appetite. On July 12, 2018, S&P Global Ratings assigned its 'BBB-' long-term and 'A-3' short-term issuer credit ratings on UK.-based Marex Spectron Group Ltd., a leading global commodities broker. The outlook is stable. Marex Spectron Group Ltd. is a nonoperating holding
