Research Update: Nielsen Upgraded To 'BB-'; Outlook Stable; Convertible Bonds Rated 'B' (Recovery Rating: 6) Mar 11

Standard & Poors, March 2011

Abstract
U.S.-based media research company Nielsen redeemed roughly $1.7 billion in debt from the proceeds of its initial public offering. We are raising our rating on Nielsen to 'BB-' from 'B+', and removing it from CreditWatch. The rating outlook is stable. In addition, we are assigning the company's new mandatorily convertible bonds our 'B' issue-level rating with a recovery rating of '6'. The stable rating outlook reflects our view that Nielsen's business will continue to grow and that the company will deleverage over the intermediate term. On March 3, 2011, Standard & Poor's Ratings Services raised its corporate credit rating on New York, N.Y.-based media research, ratings, and data provider The Nielsen Co. B.V. to 'BB-' from 'B+'. All existing issue-level...

Companies mentioned in this report are: The Nielsen Co. B.V.,Nielsen Finance LLC,Nielsen Finance Co.,Nielsen Holdings N.V.
Action: New Rating
Action: Removed From CreditWatch
Action: Upgraded

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.

The Nielsen Co. B.V.,Nielsen Finance LLC,Nielsen Finance Co.,Nielsen Holdings N.V.

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