S&P Global Ratings on July 24 affirmed the BB- issuer credit and senior secured debt ratings on Jane Street Group LLC.

The outlook remains stable.

In its ratings action, the rating agency considered Jane Street Group's "highly profitable trading business," which includes a "leading exchange-traded fund" market-making franchise and strong risk-adjusted capital ratio. S&P Global Ratings noted that the company has generated very strong earnings so far in 2020 and that its trading has benefited from the market volatility related to the COVID-19 pandemic.

Retention of these earnings has considerably increased Jane Street Group's equity, which the rating agency expects will support the expansion of the company's trading business and the maintenance of a risk-adjusted capital ratio above 10%.

The stable outlook reflects the rating agency's anticipation for "solid, albeit potentially volatile, profitability, with no large losses" as Jane Street Group expands its trading business.

This S&P Global Market Intelligence news article may contain information about credit ratings issued by S&P Global Ratings. Descriptions in this news article were not prepared by S&P Global Ratings.