S&P trims Publicis

S&P said it lowered its long-term ratings on Publicis Groupe SA and its debt to BBB from BBB+.

“Publicis revised its full-year profit guidance for the second time in a row to -2.5%, which is below our previous forecasts of 0% for the full year. This followed weak third-quarter results, with organic growth down 2.7%. For the nine months to Sept. 30, 2019, organic revenue growth was down 1.4%,” said S&P in a press release.

The outlook is stable.

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