Interpublic Downgraded by Standard and Poor’s

  • 1 min read

S&P Cuts Interpublic Group of Cos Corp Credit Rtg

NEW YORK, Dec 6 – Standard & Poor’s Ratings Services said today that it lowered its long-term corporate credit rating to triple-‘B’-minus from triple-‘B’ on The Interpublic Group of Cos. Inc. (IPG).

“The rating action is driven by liquidity concerns with respect to Interpublic’s zero coupon convertible notes issue that is put-able to the company, for cash, on Dec. 14, 2003, at the accreted value of $587 million, and the May 2003 maturity date of the company’s $500 million revolving credit facility,” said Standard & Poor’s credit analyst Alyse Michaelson. Ms. Michaelson added that, “Consistently weaker-than-expected financial performance that is restraining the company’s prospects for generating meaningful discretionary cash flow and reducing debt is also a key concern.”

Well, whatever that means it sure doesn’t sound good!

Picture of Steve Hall

Steve Hall

RECENT ARTICLES
Uncategorized

Lazy people who become highly disciplined often practice these 10 simple habits
Uncategorized

People who light up every room they walk into usually display these 8 subtle behaviors
Uncategorized

10 little things to start doing now to get ahead of everyone else in 5 years
Uncategorized

People who are naturally quiet but highly observant usually display these 8 subtle behaviors
Uncategorized

If a man feels proud to have you in his life, he’ll usually display these 9 behaviors
Strange

Dad Uses Hot Daughter to Sell Car on eBay

Load more

TRENDING AROUND THE WEB

Psychology says the freedom that childless couples experience in midlife carries a hidden cost. Without the natural structure that children impose on time, weekends, holidays, and decades, they must generate their own sense of purpose continuously, and that ongoing act of self-creation is both the privilege and the exhaustion nobody warns them about.

Psychology says the freedom that childless couples experience in midlife carries a hidden cost. Without the natural structure that children impose on time, weekends, holidays, and decades, they must generate their own sense of purpose continuously, and that ongoing act of self-creation is both the privilege and the exhaustion nobody warns them about.

Global English Editing
Psychology says staying silent in these 8 specific situations isn’t weakness or avoidance—it’s the most precise form of self-respect that most people only learn after saying the wrong thing one too many times

Psychology says staying silent in these 8 specific situations isn’t weakness or avoidance—it’s the most precise form of self-respect that most people only learn after saying the wrong thing one too many times

Global English Editing
I raised three kids, worked full time, and kept a marriage together for forty years, and my son told me over dinner that my generation had it easy. I didn’t argue. I just felt something close quietly inside me.

I raised three kids, worked full time, and kept a marriage together for forty years, and my son told me over dinner that my generation had it easy. I didn’t argue. I just felt something close quietly inside me.

Global English Editing
Psychology says the reason you can’t maintain self-discipline isn’t lack of willpower — it’s that you’re trying to force a behavior your nervous system has learned to associate with punishment, criticism, or being unloved

Psychology says the reason you can’t maintain self-discipline isn’t lack of willpower — it’s that you’re trying to force a behavior your nervous system has learned to associate with punishment, criticism, or being unloved

Global English Editing
Psychology says people who pretend not to see acquaintances in public to avoid small talk aren’t rude—they’re running a very efficient internal cost-benefit analysis that extroverts simply don’t have the software for

Psychology says people who pretend not to see acquaintances in public to avoid small talk aren’t rude—they’re running a very efficient internal cost-benefit analysis that extroverts simply don’t have the software for

Global English Editing
Psychology says the most painful relationship of your life won’t be with someone obviously cruel—it will be with someone who has a specific set of 10 traits that make the damage feel, for a long time, like your fault

Psychology says the most painful relationship of your life won’t be with someone obviously cruel—it will be with someone who has a specific set of 10 traits that make the damage feel, for a long time, like your fault

Global English Editing
Load more