Research Update: Jane Street Group LLC Outlook Revised To Positive From Stable On Business Growth; Ratings Affirmed

Jane Street Group LLC has substantively expanded its markets and broadened its products traded and increased its market share in many segments. The company has also been enhancing its risk management capabilities to address the increased complexity from its business growth and expanded scale. We affirmed all ratings, including our 'BB' issuer credit and senior secured debt ratings, and revised our outlook on Jane Street to positive from stable. The positive outlook indicates that we could raise the rating in the next 12-24 months if we believe the company?s franchise growth and diversification is sustainable and will result in more stable revenue and earnings, while also taking steps to strengthen and institutionalize its risk management capabilities and maintaining a solid

...Rating Component Scores Issuer Credit Rating ##/Positive/-- SACP ##+ Anchor ###- Business position Moderate (-1) Capital and earnings Strong (1) Risk position Adequate (0) Funding and liquidity Moderate and Adequate (-1) Comparable ratings analysis 0 Support 0 ALAC support 0 GRE support 0 Group support 0 Sovereign support 0 Additional factors 0 SACP--Stand-alone credit profile. ALAC--Additional loss-absorbing capacity. GRE--Government- related entity....

Research Update