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Moody’s moves Pearson view to positive
Moody’s Ratings said it changed its outlook for Pearson plc and its wholly owned subsidiary Pearson Funding plc to positive from stable and affirmed the Baa3 ratings on Pearson, revolver and senior unsecured notes.
The positive outlook reflects Pearson’s robust credit metrics, which include Moody's-adjusted debt/EBITDA of 1.5x and a return to Moody's adjusted positive free cash flow of £181 million in 2023.
“The company has indicated the new CEO will present the company's next steps to grow the business in July 2024. Nevertheless, Moody's Ratings expects Pearson to maintain a prudent capital allocation policy and stance towards acquisitions and shareholder returns over 2024-25,” the agency said in a press release.
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