Fitch lowers Wolters Kluwer outlook to negative

Fitch Ratings said it has changed Wolters Kluwer's outlook to negative from stable.

The long-term issuer default rating is affirmed at BBB+, the agency said, noting that the group's senior unsecured debt is affirmed at BBB+, subordinated notes at BBB and the short-term issuer default rating at F2.

According to Fitch, the outlook revision follows Wolters Kluwer's indication that it expects its FY08 net debt:EBITDA to rise above the stated guidance of 2.5x for the next 12 to 18 months, as a result of acquisitions made so far in 2008.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.