S&P rates Omnicom notes BBB+

Standard & Poor's said it assigned a BBB+ rating to Omnicom Group Inc.'s proposed $500 million senior unsecured notes due 2022.

The proceeds will be used for general corporate purposes.

The company also has a long-term corporate credit rating of BBB+ and a stable outlook.

Pro forma for the proposed notes issuance, Omnicom's debt-to-EBITDA ratio is 2.6x as of March 31, S&P said.

This is below the 3x leverage threshold for the company at a BBB+ rating, the agency said.

The ratings reflect Omnicom's strong position among top global advertising agency holding companies, good geographic and business diversity, a flexible cost structure and good discretionary cash flow, S&P said.

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