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Moody’s upgrades RELX
Moody’s Investors Service said it upgraded to A3 from Baa1 the long-term backed senior unsecured debt ratings of RELX Finance BV, RELX Capital Inc. and RELX Inc. The agency also raised RELX plc’s long-term issuer ratings to A3 from Baa1.
“The company continued to report strong credit metrics in the first half of 2023. RELX's strong profitability margins compare favorably with peers and are commensurate with the A3 rating. Moody's expects the company will maintain Moody's EBITA margins of between 35% and 36% in the next 12 to 18 months.
“Also, Moody's expects RELX's leverage, as reflected in Moody's-adjusted gross debt/EBITDA, to remain stable at 2.2x in 2023 and Moody's-adjusted RCF/net debt to remain around 20%,” the agency said in a press release.
The outlook is stable.
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