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Fitch Upgrades Jane Street to High Grade, Citing Income Growth

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Fitch Upgrades Jane Street to High Grade, Citing Income Growth Fitch Ratings upgraded Jane Street Group to investment-grade status on Friday, citing the market maker’s strong income growth throughout the economic cycle. Jane Street has made investment in technology infrastructure to support expanded trading strategies, and its net operating income has risen, while capital distributions have remained relatively modest, resulting in a build up in trading capital, Fitch said. The bond rater...

Fitch Upgrades Jane Street to High Grade, Citing Income Growth Fitch Ratings upgraded Jane Street Group to investment-grade status on Friday, citing the market maker’s strong income growth throughout the economic cycle. Jane Street has made investment in technology infrastructure to support expanded trading strategies, and its net operating income has risen, while capital distributions have remained relatively modest, resulting in a build up in trading capital, Fitch said. The bond rater upgraded the firm to BBB-, the lowest investment-grade rating, from BB+, the highest junk level.
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Originally published by Bloomberg Markets Read original →