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S&P Credit Research1037 word report
published Jul 04, 2008
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Abstract: 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 products and content distribution platforms. Reed Elsevier has entered into a definitive agreement to acquire ChoicePoint Inc., a provider of data and analytics to the insurance sector. The total acquisition consideration at $4.1 billion ($3.5 billion in cash for equity and $0.6 billion of net debt) would be substantial at 4.2x ChoicePoint's revenues and 14.3x ChoicePoint's EBITDA,
Brief Excerpt: RESEARCH Ratings Definitions Summary: 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...
Report Type: Summary
Ticker: REL@LNIssuer: Reed Elsevier PLCGICS: Publishing (25401040)Sector: Corporations, Global Issuers, Media & EntertainmentCountry: United KingdomRegion: Europe, Middle East, AfricaFree Sample: Click
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S&P Credit ResearchS&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.
