S&P ups Interpublic

Standard & Poor's said it raised the long-term corporate credit rating on Interpublic Group of Cos. Inc. to BB+ from BB and removed the ratings from CreditWatch, where they were originally placed with positive implications on March 31.

The outlook is stable.

S&P also raised the issue-level ratings in accordance with the upgrade of the corporate credit rating, the agency said. These ratings were also removed from CreditWatch.

The upgrade reflects the expectation that the company will continue to gradually improve profitability metrics in 2011 based on the assumption of mid-single-digit percent organic revenue growth and ongoing cost management, the agency said.

The stable outlook reflects the expectation of further organic revenue growth and gradual margin expansion in 2011 and continued strong liquidity despite increased shareholder returns and potential acquisitions, the agency added.

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