S&P rates ICE notes A-

S&P said it assigned its A- debt rating to Intercontinental Exchange Inc.'s) $750 million offering of senior unsecured notes.

The rating aligns with those on ICE’s outstanding senior unsecured notes.

“We expect ICE to use most of the debt issuance proceeds to pre-fund a portion of its existing senior notes that mature in May 2025 and pay off a portion of the outstanding term loan with the residual. We view this planned issuance as largely leverage neutral and continue to expect that ICE's debt-to-EBITDA ratio will fall below 3.5x by the end of 2024,” S&P said in a press release.

The outlook is stable.

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