S&P: Interpublic still on watch

Standard & Poor's said its ratings on the Interpublic Group of Cos. Inc., including the BB- long-term corporate credit rating, remain on CreditWatch with negative implications.

S&P noted it is continuing its review on Interpublic and as part of the process will meet with management, which could potentially lead to a further rating downgrade in a matter of weeks.

The CreditWatch listing reflects the delay in filing financial statements with the SEC, the potential repercussions of senior management departures and transitions, the ongoing SEC investigation into the company's accounting problems, the impact of adjustments to prior-period financial statements and the recurring need for waivers from lenders, the agency said.

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