The rating agency Standard & Poor's has once again affirmed an AA- credit rating for SIX Group Ltd, thereby reflecting its broad diversification and excellent risk management. The securities services providers SIX SIS Ltd and SIX x-clear Ltd again each received an AA rating. The rating of SIX Payment Services (Austria) GmbH improved from A- to AA-. S&P has now placed the outlook on “negative”.
Since 2010 SIX, the internationally active provider of financial market infrastructure and services, has commissioned well-known rating agency Standard & Poor’s (S&P) to rate the entire company and to evaluate individual subsidiary companies under the SIX umbrella.
As in previous years, SIX Group Ltd was rated AA-. The securities services providers SIX SIS Ltd and SIX x-clear Ltd again received an AA rating. The rating of SIX Payment Services (Austria) GmbH improved from A- to AA-.
In its rationale, S&P highlighted the pivotal role SIX fulfills as Switzerland’s financial market infrastructure operator, its solid balance sheet structure and strong capital base, its high liquidity, sound risk management and high level of diversification, which reduces the company’s reliance on the capital market.
Stefan Mäder, Group CFO SIX, had the following to say on S&P's ratings: "We are very proud that S&P has awarded us the high AA- credit rating for the sixth time in a row. The financial strength and compelling strategy of SIX – which in its role as operator of financial market infrastructure plays a significant part in ensuring an attractive Swiss financial center – were essential factors in this very good rating. That is important not just for us but also for the other participants in the Swiss financial sector. Unfortunately our growth strategy in payment services, which S&P feels involves moderately high risk, and the increased liquidity requirements in the clearing business have resulted in a negative outlook."