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S&P downgrades Informa
S&P said it downgraded its ratings for Informa plc and its issue credit ratings to BBB- from BBB.
Informa has significant exposure to the events industry. “We believe that the continuing expansion of the global coronavirus pandemic, leading to the widespread postponement and cancellation of live events, and government-imposed bans on travel and public gatherings will have negative implications for Informa's earnings,” said S&P in a press release.
On March 10, Informa announced the re-scheduling of around 115 events from the first half to the second half of 2020, representing around £400 million in revenues for the year.
The outlook is stable.
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