Fitch puts Refinitiv on positive watch

Fitch Ratings said it placed the ratings of Refinitiv Parent Ltd. and Refinitiv US Holdings, Inc., including the BB issuer default rating, on rating watch positive.

The agency said the action follows the announcement that London Stock Exchange Group plc will acquire Refinitiv in an all-stock transaction valuing Refinitiv at $27 billion.

“The transaction creates a diversified global financial infrastructure group with leading segment market shares generating combined 2018 revenue and adjusted EBITDA of approximately £6.4 billion and £2.6 billion, respectively,” the agency said in a news release.

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