Inspiration meets innovation at Brandweek, the ultimate marketing experience. Join industry luminaries, rising talent and strategic experts in Phoenix, Arizona this September 23–26 to assess challenges, develop solutions and create new pathways for growth. Register early to save.
NEW YORK Standard & Poor’s on Friday downgraded Interpublic Group’s long-term credit rating to “junk” status, citing “organic revenue declines, insufficient control over agencies’ variable cost structures and considerably lower margins.”
Previously rated “BBB-“–the lowest rung of investment grade–IPG’s rating slid a single step to “BB+.” S&P’s also lowered IPG’s short-term credit rating, to “B” from “A-3.” At the same time, the ratings remain on “credit watch” with negative implications, as they have since Aug. 6.
“The
WORK SMARTER - LEARN, GROW AND BE INSPIRED.
Subscribe today!
To Read the Full Story Become an Adweek+ Subscriber
Already a member? Sign in