Moody's changes Publicis view to stable

Moody's Investors Service said it changed the outlook to stable from negative on Publicis Groupe SA and affirmed its Baa2 long term issuer rating and Baa2 senior unsecured ratings.

"The outlook change to stable from negative reflects Publicis' better than expected operating and financial performance in 2020, which has resulted in an acceleration of the improvement in credit metrics. These metrics are now well within the boundaries for the Baa2 rating," said Agustin Alberti, a Moody's vice president, senior analyst and lead analyst for Publicis, in a press release.

"The rating action also reflects our expectation of a solid recovery over the next 12-18 months supported by mid-single digit organic revenue growth, improving margins and further deleveraging," added Alberti.

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