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Publicis taken off CreditWatch negative, ratings affirmed - S&P


Published : Mon, 15 Jan 2007 19:18
By : Agencies
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LONDON (AFX) - Standard & Poor's said it has removed Publicis Groupe SA's ratings from CreditWatch negative after the French advertising group acquired Digitas Inc, of the US, for 1.3 bln usd.

S&P also affirmed Publicis's 'BBB+/A-2' corporate credit ratings and 'BBB+' senior unsecured debt rating, citing the company's solid operating performance and strong cashflow generation.

However, the ratings agency said the outlook is negative.

newsdesk@afxnews.com

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