S&P changes IHS Markit view to positive

S&P said it affirmed the BB+ corporate credit rating on IHS Markit Ltd. and revised the outlook to positive from stable.

At the same time, the agency affirmed the BB+ issue-level ratings on the company’s unsecured debt.

"The outlook revision reflects IHS Markit's improved business diversity over the past several years, with the growth of its transportation segment, the addition of the financial services segment, and the dilution of its resources segment to 25% of revenues, down from about half in 2013," S&P credit analyst Christian Frank said in a news release.

During that time, the company delivered good operating performance despite headwinds in the energy market and it has executed its financial policy consistently, maintaining leverage below 3 times with only temporary spikes to 4 times for acquisitions followed by a period of rapid leverage reduction, the agency explained.

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