Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers E > Headlines for Editis Holding SA > News item |
Moody's upgrades Editis to Ba3
Moody's Investors Service said it upgraded to Ba3 from B1 the corporate family rating of Editis Holding SA. This corporate family rating has been re-assigned from Odyssee 1 SAS.
The outlook is stable.
The agency said the upgrade reflects the company's improved operating efficiency; its substantial deleveraging, with leverage down to 4.8 times on a debt to EBITDA basis from 5.2 times in 2005; and the successful integration of recent acquisitions such as publishers Cherche Midi, First and XO.
The Ba3 corporate family rating also reflects the likelihood that the company could consider larger acquisitions in the fragmented French publishing market in the medium term, the relatively high level of seasonality in Editis' business and some concern that the company might have to step up its so far limited investment in electronic product development over time, Moody's 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.