S&P affirms INTL FCStone

S&P said it affirmed its BB- issuer credit rating on INTL FCStone Inc. The outlook remains stable.

S&P also discontinued the BB- rating on the company's canceled senior secured notes.

“The stable outlook reflects our expectation that the company will increase sources of stable funding in the near term (either through the renewal and upsize of revolving facilities or the issuance of other term debt), continue to seek growth, and maintain adequate capitalization and liquidity, and performance in line with the rating,” S&P said in a news release.

“We expect the firm to maintain a RAC ratio above 8% and a gross stable funding ratio and liquidity coverage metric above 100%.”

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