TRI Put on Trend-Negative by S&P

Standard & Poor’s has announced:

  • We are revising our outlook on New York-based information solutions 1provider Thomson Reuters Corp. to negative from stable due to the weaker-than-expected operating performance of the company’s Financial & Risk (F&R) segment.
  • We are also affirming all our ratings on the company, including our ‘A-‘ long-term corporate credit rating.
  • The negative outlook reflects Standard & Poor’s view of the weaker-than-expected operating performance within the F&R segment and hurdles Thomson Reuters faces in returning this business to healthy and sustainable revenue growth given the slow economic recovery and intensely competitive operating conditions.

The negative outlook reflects Standard & Poor’s view of the weaker-than-expected operating performance within the F&R segment and hurdles Thomson Reuters faces in returning this business to healthy and sustainable revenue growth given the slow economic recovery and intensely competitive operating conditions. A downgrade could result from further execution issues in the F&R segment; weak revenue and EBITDA growth trends for the company as a whole or specifically in F&R; or adjusted debt to EBITDA at or above 2.5x on a consistent basis. Alternatively, we could revise the outlook to stable if Thomson Reuters demonstrates sustainable improvement in F&R’s operating performance, as well as its other business segments, while maintaining adjusted debt to EBITDA below 2.5x.

Thomson Reuters is the issuer of TRI.PR.B. This issue is tracked by HIMIPref™ but is relegated to the Scraps index on volume concerns.

One Response to “TRI Put on Trend-Negative by S&P”

  1. […] was last mentioned on PrefBlog when S&P put it on Trend-Negative in May […]

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