S&P rates Omnicon notes BBB+

S&P said it assigned its BBB+ issue-level rating to Omnicom Group Inc.'s proposed senior unsecured notes. The notes will rank equally with the company's senior debt.

Omnicom plans to use the proceeds to bolster its liquidity position and for general corporate purposes.

“All of our ratings on Omnicom Group Inc., including our BBB+ long-term issuer credit rating, remain unchanged. While we expect the company's operating performance to weaken materially due to the negative economic effects stemming from the coronavirus pandemic, we do not expect its leverage to rise above our 2.5x threshold for the rating under our base-case forecast,” S&P said in a press release.

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