Research Update: WPP Group Outlook To Positive on Lower Leverage, Stable Growth; 'BBB+/A-2' Ratings Affirmed Mar 07
- ID: 1888008
- March 2007
- Standard & Poors
On March 13, 2007, Standard & Poor's Ratings Services revised its outlook on U.K.-based communications services agency WPP Group PLC to positive from stable, reflecting progressive improvement in profitability and debt protection metrics. Subject to continuity in the group's financial policy, current operating performance trends could lead to a one-notch rating upgrade in the medium term. At the same time, Standard & Poor's affirmed its 'BBB+' long-term corporate credit and senior unsecured debt ratings on WPP. The 'A-2' short-term corporate credit rating was also affirmed. The ratings reflect WPP's leading positions in advertising, market research, and public relations services, combined with broad geographical, functional, and client diversification. The ratings are further supported by the group's continuing moderate financial policy, sustainable...
Companies mentioned in this report are: WPP 2008 Ltd.
Action: Outlook: Positive
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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.
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