S&P Global Ratings has today downgraded ASX Limited’s long term issuer credit rating from AA- to A+ with a stable outlook.

This follows the December 2025 revision of ASX’s outlook from stable to negative.

S&P noted that findings released in the ASIC Inquiry’s final report contributed to the downgrade of ASX’s credit rating.

ASX said it is committed to addressing the ASIC Inquiry’s interim and final reports by implementing its Commitments Plan. The focus areas for ASX under its Commitments Plan include strengthening governance and enhancing independence of the clearing and settlement facilities, conducting a strategic reset of the Accelerate Program, uplifting leadership capability, and meeting an additional capital charge of $150 million imposed by ASIC.

The Exchange stresses that this rating action does not affect its capital, liquidity or funding position.