Fitch ups Reuters

Fitch Ratings said it assigned Thomson Reuters Corp. and Reuters Finance plc A- issuer default ratings, and upgraded Reuters Group Ltd.'s (formerly Reuters Group plc) issuer default and senior unsecured ratings to A- from BBB+.

The agency also assigned Thomson Reuters A- bank credit facility and senior unsecured notes ratings, and F2 short-term issuer default and commercial paper ratings.

The outlook is stable.

Ratings reflect the company's meaningful cash flow generating ability, its sound balance sheet and its consistent and conservative financial policies, according to the agency.

Concerns include the markets division cyclicality, integration and acquisition risks, and the potential threat of financial policy revisions, Fitch said.

The agency said it expects the issuer to target an unadjusted net debt-to-EBITDA leverage of 2 times.

© 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.