Abstract: Leading position as provider of proprietary information to the scientific, medical, legal, and business sectors High proportion of subscription sales, with good renewal rates Successful migration of content to online distribution channels Well-diversified customer base Reliance on product innovation and technological investment Strong competition from large global rivals Exposure to cyclical advertising revenues in business-to-business publishing activities The ratings on U.K.-based Reed Elsevier PLC and Netherlands-based Reed Elsevier N.V.--the joint parent companies of the Reed Elsevier group--are analyzed on a consolidated basis and reflect the strong market position of the group's online, electronic and print based publishing activities, proprietary content and growing information solutions businesses. The group faces competition from many global rivals, however, and requires ongoing investment in new

Brief Excerpt: RESEARCH Ratings Definitions Reed Elsevier Group Publication date: 04-Jul-2008 Primary Credit Analyst: Raam Ratnam, London (44) 207-176-7066; raam_ratnam@standardandpoors.com Secondary Credit Analyst: Manuela Gabetta, London (44 )...

Report Type: Full Report
Ticker: REL@LN
Issuer: Reed Elsevier PLC
GICS: Publishing (25401040)
Sector: Corporations, Global Issuers, Media & Entertainment
Country: United Kingdom
Region: Europe, Middle East, Africa
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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.