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Acknowledging Interpublic Group’s improved profitability and credit metrics, Standard & Poor’s Ratings Services revised its outlook on the company to "positive," from "stable." S&P also affirmed IPG’s corporate credit rating of BB+, which is nearly investment grade.
Last week, the industry’s fourth-largest holding company said its net income in 2011 nearly doubled to more than $520 million, helped in part by the sale of half of IPG’s stake in Facebook in the third quarter.
“The revised outlook reflects the company’s continued progress toward a peer-level EBITDA (earnings before interest, taxes, depreciation and amortization) margin, which stood at 11.9
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