S&P downgrades ASX rating following ASIC inquiry

S&P Global Ratings has downgraded ASX's (ASX:ASX) long-term issuer credit rating from AA- to A+, shifting the company’s outlook to stable following a period of heightened scrutiny.

The adjustment stems largely from the findings of the ASIC enquiry's final report, which highlighted systemic issues within the exchange's operations.

The ASX has pledged to execute a comprehensive "commitments plan" aimed at bolstering governance, improving the independence of clearing and settlement facilities, and resetting its "accelerate programme".

While the exchange must also navigate an additional $150 million capital charge imposed by ASIC, leadership maintains that the rating downgrade will not impact the organisation's current capital, liquidity, or overall funding position.

At the time of reporting, ASX's share price was $59.28.