Moody's lifts Pearson view to stable

Moody's Investors Service said it changed the outlook on Pearson plc to stable from negative.

Moody's also said it affirmed Pearson's Baa2 senior unsecured ratings.

The outlook revision reflects the company's healthy credit metrics, driven by its conservative balance sheet management in a challenged revenue growth environment and steady progress against its strategic priorities, the agency said.

The stable view also considers the company's underlying improvement of 8% in its adjusted operating profit in 2018 due to its cost efficiency program, Moody's said.

In the backdrop of muted topline performance, Pearson continues to remain focused on improving its profits in 2019 implementing its cost efficiency program, maintaining low debt leverage and positioning its business for growth by implementing its strategic priorities, the agency said.

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