S&P shifts Match Group view to stable

S&P said it revised Match Group Inc.’s outlook to stable from negative and affirmed its ratings, including the BBB- issue-level and 1 recovery ratings on its secured term loan and the BB issue-level and 3 recovery ratings on the company's senior unsecured notes.

The outlook revision and affirmations reflect the expectation that despite the pandemic's modest effect on new subscriber growth and a la carte revenue, demand for Match’s services was higher than expected and evident in the company's ability to add 1.1 million subscribers and grow revenue and EBITDA by 17% and 15%, respectively, in 2020, the agency said.

“More importantly, non-Tinder brands made substantial improvement by adding 300,000 subscribers. Growth in non-Tinder subscribers strengthens Match's credit profile because of the increase in revenue diversity,” S&P said in a press release.

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