Reuters: Financial Services and Real Estate: TEXT-Fitch rates Jefferies Group shelf registration

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TEXT-Fitch rates Jefferies Group shelf registration May 29th 2012, 21:10 Tue May 29, 2012 5:10pm EDT May 29 - Fitch Ratings has reviewed Jefferies Group Inc.'s (Jefferies) recently filed shelf registration statement, and expects to rate any senior unsecured debt securities proposed to be issued under the facility 'BBB' consistent with the Issuer Default Rating currently assigned to Jefferies. The new shelf registration replaces Jefferies' existing shelf registration, which was due to expire later this year. Under the new shelf, Jefferies may issue various securities, including senior unsecured debt, convertible debt, preferred stock, common stock, and warrants. Fitch's expected ratings address senior unsecured debt securities only. Fitch provides no opinion on the creditworthiness of other securities that may be issued under the new shelf, as these ratings depend on how the terms of these securities would align with the agency's criteria relating to hybrid securities. Furthermore, the rating does not cover any market-linked notes that could potentially be issued under the new shelf. Jefferies, a Delaware-incorporated holding company, is a well-established full service investment bank and institutional securities firm primarily serving middle-market clients and investors. Its primary broker/dealer operating subsidiary, Jefferies & Company, Inc. holds the vast majority of the firm's consolidated assets and is regulated by the SEC. At Feb. 29, 2012, Jefferies had U.S. GAAP total assets of $34.6 billion and shareholders' equity of $3.6 billion (including noncontrolling interests). Link this Share this Digg this Email Reprints

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