Fitch upgrades NEX

Fitch Ratings said it upgraded NEX Group plc's and NEX Group Holdings plc's long-term issuer default ratings to AA- from BBB and short-term issuer default ratings to F1+ from F3.

Fitch also said it assigned a support rating of 1 to NEX and removed all of the ratings from Rating Watch positive.

The outlook is stable.

The actions follow news that CME Group Inc. has completed the acquisition of NEX initially announced in March 2018, the agency said.

Consequently, NEX's and Nex Group's issuer default rating are now driven by an assessment of the availability of institutional support to NEX from CME, Fitch said.

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