Fitch Ratings has assigned a final 'BBB-' rating to Marex Group Plc's USD600 million 6.404% senior unsecured notes, which are set to mature on November 4, 2029. This rating aligns with Marex's Long-Term Issuer Default Rating (IDR), indicating that the probability of default is considered materially the same for both.
The notes rank equally with Marex's existing EUR300 million senior unsecured notes due February 2028, reflecting a consistent debt structure. Fitch's assessment considered Marex's strong earnings across varied market conditions, the growth of its franchise following the integration of ED&F Man Capital Markets Limited, and its adequate buffer over regulatory capital requirements.
This 'BBB-' rating supports Marex's ongoing diversification of funding sources and reinforces its financial stability. The affirmation of an investment-grade rating is a positive signal regarding the company's creditworthiness and its ability to manage increasing risk-management demands associated with its expanding business.
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