S&P gives AA+ to National Securities Clearing notes

S&P said it assigned its AA+ rating to National Securities Clearing Corp.'s (AA+/stable/A-1+) new senior notes. NSCC announced that it plans to issue $1 billion to $1.5 billion of senior notes.

Proceeds from the issuance will be held in bank deposits, predominantly at the Federal Reserve Bank of New York.

“Given that NSCC cannot use these debt proceeds for general corporate purposes, we view the transaction as leverage neutral,” S&P said in a news release.

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