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PARIS Standard & Poor’s Ratings Services revised its outlook on WPP Group and Publicis Groupe to “negative” from “stable.” In doing so, S&P voiced concern over the “significant deterioration of economic and advertising conditions worldwide.”
In making the announcement, S&P said it also lowered short-term ratings on WPP to “A-3” from “A-2” while affirming the company’s “BBB” long-term corporate credit and senior unsecured debt ratings. For Publicis, S&P affirmed the French concern’s “BBB+/A-2” long- and short-term corporate credit ratings and “BBB+” senior unsecured debt ratings.
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