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S&P: Nasdaq OMX to stable
Standard & Poor's said it revised the outlook on the Nasdaq OMX Group Inc. and OMX AB to stable from negative.
The agency also said it affirmed Nasdaq OMX Group's BBB long-term counterparty credit rating, along with the BBB+/A-2 counterparty credit ratings on OMX AB.
The ratings are based on the company's position as one of the leading equity and derivatives exchanges in the world and its ability to generate reasonably healthy earnings and operating cash flows from its core businesses, S&P said.
The company's fluctuating trading volumes affect profitability, the agency said. But a broad base of exchange-related activities generates a reasonably diverse revenue stream that is not overly dependent on any one source of trading activity, S&P said.
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