S&P: Daily Mail outlook to negative

S&P said it revised its outlook on Daily Mail & General Trust plc to negative from stable.

At the same time, the agency affirmed the company’s BBB- long-term and A-3 short-term corporate credit ratings and the BBB- long-term issue ratings on its senior unsecured debt.

S&P said the outlook revision reflects its view that the group's profitability may not be restored to the historical levels of almost 20%, owing to the reduction of DMGT's shareholding in high-margin Euromoney Institutional Investor plc (Euromoney) to a nonmajority stake, and pressure on the group's remaining operations, in particular in the print newspaper segment, which is in secular decline.

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