S&P lowers Wolters Kluwer outlook to negative

Standard & Poor's said it revised its outlook on Wolters Kluwer NV to negative from stable, following the group's announcement that it intends to acquire TaxWise Corp.

At the same time, S&P said it affirmed all its ratings on Wolters Kluwer, including its BBB+ long-term corporate credit and senior unsecured debt ratings and its A-2 short-term corporate credit rating.

The outlook revision reflects a cumulative increase in financial leverage after a spate of midsize acquisitions in 2005 and 2006, the agency said.

S&P noted that the ratings on Wolters Kluwer remain supported by its above-average portfolio of health, legal, tax, regulatory and education publishing activities.

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