Research Update: WPP Outlook Revised To Stable On Significant Strengthening In Credit Measures; Short-Term Rating Raised To 'A-2' Apr 11
Standard & Poors, April 2011
Abstract
U.K.-based WPP, the world's largest advertising agency, reported better than expected 2010 results, translating into a material improvement in credit metrics at the end of 2010. We expect moderate revenue and profitability growth in 2011, which is likely further improve WPP's credit metrics in 2011. We are revising our outlook on WPP to stable from negative and raising the short-term rating to 'A-2' from 'A-3'. On April 5, 2011, Standard & Poor's Ratings Services revised its outlook to stable from negative on the world's largest advertising agency, U.K.-based WPP PLC. At the same time, we raised the group's short-term corporate credit rating to 'A-2' from 'A-3' and affirmed its 'BBB' long-term corporate credit rating. The outlook revision and raising of...
Companies mentioned in this report are: WPP PLC,WPP 2008 Ltd.,WPP Finance (UK),WPP CP Finance PLC,WPP 2005 Ltd.,WPP Finance S.A.
Action: Outlook: Stable
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Product Type: Research Update
Research updates complement media releases. They offer more depth and detail than summary analyses by incorporating all information published in the media release. They are more up to date than summaries in that they are published simultaneously with media releases.
WPP PLC,WPP 2008 Ltd.,WPP Finance (UK),WPP CP Finance PLC,WPP 2005 Ltd.,WPP Finance S.A.
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