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Fitch affirms UK's Daily Mail at 'BBB'; outlook stable


Published : Thu, 01 Mar 2007 12:42
By : Agencies
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LONDON (AFX) - Fitch Ratings has affirmed Daily Mail and General Trust PLC's (DMGT) Issuer Default rating (IDR) at 'BBB' with a stable outlook, reflecting companys revenue diversity and growth potential of its business information, online and exhibition businesses.

The rating agency also affirmed senior unsecured rating at 'BBB' and the short-term rating at 'F3'.

The ratings and outlook reflect Fitch's expectation that DMGT will succeed with its stated goal of de-leveraging, mainly by cutting acquisition spend in 2007.

'A failure to de-leverage could put downward pressure on the ratings,' Fitch added.

newsdesk@afxnews.com

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