Hudson River Trading (HRT) improved its capitalization, owing to strong earnings and alongside balance sheet growth. HRT continues to build its franchise by expanding into new asset classes, regions, and strategies and has posted stronger-than-peers' earnings in the first nine months of 2023. We revised the outlook to positive from stable and affirmed the 'BB-' issuer credit and senior secured debt ratings. The positive outlook reflects the company's recent capitalization improvements, that, if sustained, could lead to a higher rating. On Jan. 30, 2024, S&P Global Ratings revised the outlook on Hudson River Trading (HRT) to positive from stable and affirmed the 'BB-' issuer credit and senior secured debt ratings. HRT's RAC ratio improved from 10.9% at year-end 2022 to
