Moody’s affirms CME, reviews GFI

Moody's Investors Service said it affirmed CME Group Inc.'s Aa3 long-term issuer and senior unsecured debt ratings, as well as its Prime-1 short-term issuer and commercial paper ratings, following its announcement that it agreed to acquire GFI Group Inc.

In a related action, the agency placed GFI's B1 long-term issuer and senior unsecured debt ratings under review for possible upgrade.

Moody's said the review for possible upgrade of GFI's ratings results from the announcement that CME intends to assume GFI's debt obligations. Moody's will consider the final structure of the merger and terms of the debt assumption in concluding its review when the transaction closes. If GFI's creditors were to benefit from the full financial strength of CME, then GFI's ratings would be equalized with CME's ratings.

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