The ratings on Wolters Kluwer N.V. reflect Standard & Poor's Ratings Services' view of the group's strong portfolio of publishing activities as well as its information tools and solutions that cater to professionals in the legal, tax, regulatory, accounting, financial services, and health care sectors. The ratings are also supported by the group's stable revenue profile: with two-thirds of revenues from recurring subscriptions often paid in advance, Wolters Kluwer has negligible exposure to advertising. The ratings are constrained by the group's relatively high leverage, the cyclicality of transactional revenue streams, and the challenge of achieving steady and profitable growth in a highly competitive market. Wolters Kluwer's reported revenues increased by 4% to €3.6 billion in 2010, boosted by acquisitions and...
Companies mentioned in this report are:
- Wolters Kluwer N.V.
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