S&P revises Cboe view to stable

S&P said it revised the outlook for Cboe Global Markets to stable from negative and affirmed the company’s A- issuer rating.

“We revised the outlook to stable because two developments at Cboe, when taken together, support its resilience. First, we had identified its acquisition of EuroCCP as a source of risk, not least because EuroCCP's efforts to bolster its liquidity resources amid a severe clearing member default were a work in progress. While we see EuroCCP as relatively weaker than a majority of the clearinghouses we rate, it has made significant progress on liquidity. Second, Cboe has demonstrated robust business performance and sustained low leverage,” S&P said in a press release.

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