Moody's: WPP notes Baa3

Moody's Investors Service said it assigned a provisional Baa3 senior unsecured rating with a positive outlook to the proposed (up to) $950 million senior unsecured notes to be issued by WPP Finance 2010.

The new entity, WPP Finance 2010, is indirectly wholly owned by WPP plc, and WPP Air 1 Ltd., WPP 2008 Ltd., WPP 2005 Ltd. and WPP plc will guarantee the notes. The debt ratings and outlook for WPP plc and all its rated subsidiaries remain at Baa3 with a positive outlook.

Moody's said WPP's Baa3 long-term rating is based on the group's worldwide leadership in advertising, communications and marketing services.

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