Summary: SIX Group AG Dec 11

Standard & Poors, December 2011

Abstract
The ratings on Switzerland-based SIX Group AG (SIX Group) are based on its central role as a provider of critical infrastructure services to the Swiss capital markets and payments systems, complemented by its strong financial profile and conservative risk management. SIX Group exhibits a strong balance sheet with little debt leverage and solid levels of liquidity. SIX Group's unique mix of revenues supports the ratings. However, profitability is comparatively lower than rated peers. The ratings are constrained by geographic concentration within Switzerland. SIX Group is a vertically integrated exchange organization that operates Switzerland's financial market infrastructure and offers services in the fields of securities trading, clearing, and settlement, as well as financial information. In contrast to other major European exchanges,...

Companies mentioned in this report are: SIX Group AG
Action: Review

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This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.

SIX Group AG

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