S&P Places Omnicom on 'CreditWatch'

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 today placed its long-term ratings for Omnicom Group, including the ‘A-‘ corporate credit rating, on “CreditWatch with negative implications.”
 
The move comes two days after the holding company reported a rough fourth-quarter in which its net income fell 14 percent to $271 million, or 88 cents a share, from $314 million, or 96 cents a share, a year earlier.
 
“The CreditWatch placement is based on our view that the company’s leverage will likely rise further beyond our threshold for Omnicom at an ‘A-‘ rating as a result of weak ad demand, and is unlikely to return within our threshold over the next one to two years,” said Standard & Poor’s credit analyst Heather Goodchild in a statement.



AW+

WORK SMARTER - LEARN, GROW AND BE INSPIRED.

Spring Special

Save 30% Off an ADWEEK Subscription Today!

View Your Options

Already a member? Sign in