Egan-Jones cuts Knight Capital Group to B from B-plus
— 12:36 PM ET 08/01/2012
NEW YORK, Aug 1 (Reuters) - Ratings agency Egan-Jones on Wednesday cut Knight Capital Group (KCG
) to B from B-plus, citing operating issues at the company.
Knight Capital Group Inc (KCG
) said on Wednesday that a "technology issue" in its market-making unit had affected the routing of shares of around 150 stocks to the New York Stock Exchange, where abnormal volatility roiled the markets in early trading.
"Operating problems are hurting KCG," Egan-Jones said in a statement, which did not mention Wednesday's technology issues. (Reporting By Luciana Lopez; Editing by Padraic Cassidy)