Fitch affirms Wolters Kluwer at BBB

Fitch Ratings said it affirmed Wolters Kluwer NV's issuer default rating at BBB with a stable outlook.

At the same time, Fitch has affirmed the Dutch publisher's senior unsecured debt at BBB and its subordinated notes at BBB-. The short-term rating is affirmed at F2.

Fitch said the ratings reflect Wolters Kluwer's strong cash-generating ability, robust positions in its key markets and good progress through its three-year restructuring plan.

These positives are offset to an extent by the group's willingness to tolerate relatively high levels of leverage and the lack of margin improvement so far as a result of cost-cutting, the agency said.

© 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.