Moody’s Investors Service, a rating agency, has confirmed that SIS SegaInterSettle and SIS x-clear have retained the top grade Prime-1 for short term deposits and Aa1 for long-term deposits.
The confirmation follows the announcement of the merger of the Swiss market infrastructure providers SWX Group, Telekurs Group and SIS Group.
According to Moody’s, the confirmation of the high rating is mainly motivated by the clear division of responsibilities to be maintained within the new, strong organisation and the outstanding technical infrastructure that the entire group will continue to provide to the Swiss financial market.
The high rating also takes into account that SIS SegaInterSettle and SIS x-clear will be independent companies within the new organisation and that the ownership structure will essentially remain unchanged.
Moody’s furthermore acknowledges that the merger will allow SIS SegaInterSettle and SIS x-clear to better respond to future market challenges.
“Moody’s has recognised that the announced merger will sharpen the two companies’ competitive edge,” says Peter Sami, CEO of the SIS Swiss Financial Services Group. “This gives us great satisfaction, of course.”