S&P lowers Pearson view to negative

S&P said it revised its outlook on Pearson plc to negative from stable and affirmed the long-term corporate credit rating and senior unsecured debt ratings on Pearson at BBB and the short-term corporate credit rating at A-2.

S&P said the outlook revision reflects its expectation that continued weak operating performance across Pearson's core business segments will take longer to reverse than previously anticipated. This, in turn, will lead to a deterioration of the group's credit metrics for longer than expected, absent any significant reduction in net debt and tighter financial policy; the latter at this point remains uncertain, the agency said in a news release.

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