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Moody’s could lift NEX Group
Moody's Investors Service said it placed the Baa3 long-term ratings of NEX Group plc and affiliates on review for upgrade.
The action follows the announcement that NEX Group entered into an agreement to be acquired by CME Group Inc. (Aa3 stable). CME will acquire NEX Group for £3.9 billion in cash and CME common shares, and will fund the cash consideration with a mix of debt and excess cash on hand.
Moody’s said the review reflects the potential benefits to NEX Group's creditors if NEX Group is acquired by the higher rated CME.
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