Moody’s changes Kantar outlook to stable

Moody’s Investors Service said it changed its outlook for Kantar Global Holdings Sarl to stable from negative and affirmed its ratings, including the B2 ratings on the senior secured loans and senior secured notes issued by its subsidiaries and the Caa1 rating on Summer (BC) Holdco A Sarl’s € 428 million of senior unsecured notes.

“The change in outlook to stable reflects (1) the steady revenue and EBITDA growth momentum achieved over 2021 and 2022; (2) the improvement in the company's business profile helped by the successful execution of its business transformation plan as well as the portfolio repositioning since 2019; (3) improvement in its Moody's adjusted gross leverage (debt is net of the notional cash pooling in the bank overdrafts) to around 6.5x in 2022/23 with further de-leveraging expected in 2024,” the agency said in a press release.

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