S&P: Daily Mail to positive

Standard & Poor's said it revised the outlook on Daily Mail & General Trust plc to positive from stable.

The agency also said it affirmed the company's BB+ long-term and B short-term corporate credit ratings and BB senior unsecured debt ratings on the group.

The recovery rating on its senior unsecured debt is unchanged at 5, indicating 10% to 30% expected recovery in a default.

The outlook revision reflects the company's move toward a more moderate financial policy and its gradually improving business risk profile following the sale of its regional newspaper division Northcliffe, S&P said.

The positive outlook also considers the steady growth of its business-to-business division, the agency said.

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