Oct 10 -
-- We continue to believe that the financial risk profile of London Stock Exchange Group PLC
(LSEG) will deteriorate if the group acquires a majority stake in multiproduct clearing
services provider LCH.Clearnet Group Ltd. (LCH.Clearnet).
-- We now perceive additional downside risk to the long-term rating on LSEG, for example if
it was to fund an equity contribution to LCH.Clearnet through debt.
-- We are maintaining our 'A-' long-term rating on LSEG on CreditWatch with negative
implications, where it was placed on March 13, 2012, and affirming our 'A-2' short-term rating.
-- The CreditWatch placement reflects the possibility of us lowering our rating on LSEG by
up to two notches on completion of the acquisition, which remains on target to happen before the
end of 2012, although we may affirm it.
On Oct. 10, 2012, Standard & Poor's Ratings Services maintained its 'A-' long-term
counterparty credit rating on London Stock Exchange Group PLC (LSEG) on CreditWatch with
negative implications, where it was originally placed on March 13, 2012. At the same time, we
affirmed the 'A-2' short-term counterparty credit rating on LSEG.