Fitch Affirms IG Group Rating, Lowers Outlook Over Proposed Acquisition of Underdog Sports

08:08 AM EDT, 08/04/2026 (MT Newswires) -- Fitch on Tuesday affirmed its long-term issuer default rating on UK-listed trading company IG Group (IGG.L) at BBB and revised the outlook to negative from stable. The rating agency said the outlook change reflects the risk that IG Group's partly debt-funded purchase of the US-based company for up to $1.3 billion will increase its medium-term leverage, with the gross debt-to-EBITDA ratio rising and likely remaining at 1.5x or above after 2027, up from 0.9x in June 2026. Meanwhile, the affirmation reflects IG Group's leading franchise in over-the-counter leveraged trading, broadening revenue base, and the strong performance of its core business.