Leading global positions in advertising and communications services. Broad geographic, business, and client diversity. Large scale of operations, helping to develop and retain management and creative talent. Solid conversion of profits into discretionary cash flows. Significant debt increase post-TNS acquisition, coinciding with severe economic downturn. Cyclical nature of advertising markets. Clients' ability to switch to competitors or scale back spending on advertising and marketing at short notice. Reliance on maintaining a strong professional reputation through the quality and motivation of key personnel. The ratings on U.K.-based communications services group WPP PLC reflect its leading positions in advertising, market research, and public relations services, combined with broad geographic, business, and client diversification. The ratings are further supported by the group's solid...
Companies mentioned in this report are: WPP PLC,WPP 2008 Ltd.,WPP 2005 Ltd.,WPP Air 1 Ltd.,WPP Air 3 Ltd.
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