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S&P Credit Research824 word report
published Dec 12, 2008
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S&P Credit Research
| Abstract: | LONDON (Standard&Poor's) Dec. 12, 2008--Standard&Poor's Ratings Services said today that it lowered its long-term corporate credit and senior unsecured debt ratings on U.K.-based Reed Elsevier PLC and Netherlands-based Reed Elsevier N.V.--the joint parent companies of the Reed Elsevier group and their related entities--to 'BBB+' from 'A-'. The short-term ratings are affirmed at 'A-2'. The outlook is negative. "The downgrade follows Reed Elsevier's announcement that it has terminated discussions with shortlisted bidders to sell the Reed Business Information (RBI) division, due to the weak credit market conditions. Reed Elsevier had hoped to use the sales proceeds from the disposal of the RBI division toward deleveraging, following the increase in the group's debt levels, arising from the $4.1
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| Brief Excerpt: | RESEARCH Ratings Definitions Rating On Reed Elsevier Cut To '###+' Following Cessation of RBI Disposal; Outlook Negative Publication date: 12-Dec-2008 Primary Credit Analyst: Raam Ratnam, London (44) 207-176-7066; raam_ratnam@standardandpoors.com...
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| Report Type: | Ratings Action
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| Ticker: | REL@LN
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| Issuer: | Reed Elsevier PLC
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| GICS: | Publishing (25401040)
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| Sector: | Corporations, Global Issuers, Media & Entertainment
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| Country: | United Kingdom
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| Region: | Europe, Middle East, Africa
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| Free Sample: |
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S&P Credit Research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.
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