Periodic Review Announcement: Moody’s announces the completion of a periodic review of CME Group Inc. ratings.
Global Credit Research – September 02, 2020
New York, September 2, 2020 – Moody’s Investors Service (“Moody’s”) has completed a periodic review of the ratings of CME Group Inc. and other ratings associated with the same unit of analysis. The review was conducted through a portfolio review in which Moody’s reassessed the adequacy of the ratings in the context of the relevant key methodology (s), recent developments and a comparison of the financial and operational profile with similarly rated peers. No evaluation committee was involved in the review. Since January 1, 2019, Moody’s has issued a press release to announce the financial statements after each periodic review.
This publication does not announce a credit rating measure and does not give any indication of whether or not a rating measure is likely in the near future. Credit ratings and outlook / review status cannot be changed in a portfolio review and are therefore not affected by this announcement. For information on the ratings featured in this release, please see the Ratings tab on the Issuer / Company page at www.moodys.com. There you will find the latest information on creditworthiness measures and the rating history.
The key evaluation considerations are summarized below.
The long-term Aa3 ratings of CME Group Inc. reflect the long-standing success story of consistently strong financial performance as the market-leading operator of derivatives exchanges and central clearing house for counterparties. CME derives substantial credit strengths from the strong barriers to entry, substantial liquidity pools and customer loyalty in its vertically integrated clearing and trading activities. The globally diversified product offering for derivatives generates exceptionally strong cash flows and profit margins, and creditworthiness is backed by conservative financial and strategic policies.
This document summarizes Moody’s view as of the publication date and will not be updated until the next announcement of a periodic review to reflect material changes in credit ratios (if any) during the intervening period.
The main methodology used for this review was the Investment Service Providers Methodology published in November 2019. A copy of this methodology can be found on the Rating Methods page on www.moodys.com.
This announcement only applies to EU ratings and EU-endorsed ratings. Non-EU-rated and non-EU-endorsed ratings may be reported above to the extent required if they are part of the same analytical unit.
This publication does not announce a credit rating measure. For information on the ratings featured in this release, please see the Ratings tab on the Issuer / Company page at www.moodys.com. There you will find the latest information on creditworthiness measures and the rating history.
Donald Robertson Senior Vice President Financial Institutions Group Moody's Investors Service, Inc. 250 Greenwich Street New York, NY 10007 U.S.A. JOURNALISTS: 1 212 553 0376 Client Service: 1 212 553 1653 Ana Arsov MD - Financial Institutions Financial Institutions Group JOURNALISTS: 1 212 553 0376 Client Service: 1 212 553 1653 Releasing Office: Moody's Investors Service, Inc. 250 Greenwich Street New York, NY 10007 U.S.A. JOURNALISTS: 1 212 553 0376 Client Service: 1 212 553 1653
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