• 1-800-526-8630U.S. (TOLL FREE)
  • 1-917-300-0470EAST COAST U.S.
  • +353-1-416-8900REST OF WORLD
Summary: Gruppo Editoriale L'Espresso SpA Oct 11 Product Image

Summary: Gruppo Editoriale L'Espresso SpA Oct 11

  • ID: 1931833
  • October 2011
  • Standard & Poors

Abstract
The ratings on Italy-based newspaper and magazine publisher Gruppo Editoriale L'Espresso SpA (Gruppo Espresso) reflect Standard & Poor's Ratings Services' view of the group's exposure to the cyclical nature of the advertising sector and its concentration of earnings from a single business franchise, "la Repubblica," although it covers a range of products. Our belief that the group competes for advertising revenues within Italy's highly concentrated media industry, and its 53.9% ownership by holding company CIR-Compagnie Industriali Riunite SpA (CIR; BB/Stable/B) constrain the ratings. The ratings are supported by the group's leading position in the Italian national and local newspaper markets. In 2010, this sector was worth approximately -2.3 billion--according to the market research firm ACNielsen--of which Gruppo Espresso held an...

Companies mentioned in this report are: Gruppo Editoriale L'Espresso SpA
Action: Review

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 READ MORE >

Note: Product cover images may vary from those shown

Gruppo Editoriale L'Espresso SpA

Note: Product cover images may vary from those shown
Note: Product cover images may vary from those shown

RELATED PRODUCTS