Fitch puts IHS Markit on positive watch

Fitch Ratings said it placed the long-term issuer default rating and senior unsecured ratings of IHS Markit Ltd. on rating watch positive.

The placement reflects the announcement that S&P Global Inc. agreed to acquire IHS Markit in an all-stock transaction valuing IHS Markit at an enterprise value of $44 billion, Fitch said in a press release.

“The combination of IHS Markit with S&P Global will dramatically increase the scale and scope of the combined company's end markets. S&P Global's pro forma (PF) combined revenue will increase approximately 58% on a last four quarters basis and its proportion of recurring fixed and recurring variable revenue will increase by about seven percentage points, reflecting the contribution of IHS Markit's 88% recurring revenue base,” Fitch said in a press release.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.