S&P Raises Credit Rating on IPG

Standard & Poor’s Ratings Services has raised its corporate credit rating on Interpublic Group to “BB” from “B+.”
 
In making the upgrade, S&P cited the lessening declines in organic revenue at IPG and said it expects the company’s “organic growth could be neutral or positive as early as the second quarter.” S&P also said it expects IPG to increase its EBITDA margin addition, and noted that corporate liquidity has improved, as the firm is repaying debt in 2010 that gives IPG’s loan covenant compliance “a healthier cushion.”
 
IPG