On March 18, 2019, Nexi SpA (Nexi) announced its intention to float on the Italian stock exchange. The company started the process that will lead to its listing a few weeks ago. The offering will include €600 million-€700 million of newly issued shares. The group has said it will use the proceeds to reduce its existing financial debt. We are placing on CreditWatch positive our 'B+' long-term ratings on Nexi and its senior secured debt because we anticipate that Nexi's financial risk profile could improve. We aim to resolve the CreditWatch placement within the next few months, when the IPO closes. The rating upside is likely limited to one notch, at this stage. On March 20, 2019, S&P Global Ratings
