S&P Places Omnicom on 'CreditWatch'

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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...

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