Moody's upgrades Stagwell's CFR to B1; outlook is stable

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Beth Sidhu
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Michaela Pewarski

Stagwell is pleased to share that Moody’s upgraded Stagwell’s corporate family rating (CFR) to B1 from B2 yesterday afternoon (July 12, 2022).

They also upgraded the probability of default rating to B1-PD from B2-PD, senior unsecured notes rating to B2 from B3, and speculative grade liquidity rating to SGL-2 from SGL-3. Given the upgrade, the outlook was also changed to stable from positive.

Peter Adu, Moody’s Vice President and Senior Credit Officer commented on this upgrade saying that, “The upgrade reflects the company’s good operating momentum post-merger and its focus on deleveraging.” The full release from Moody’s can be found here.

As a reminder, Stagwell will report Q3 2022 financial results on Thursday, August 4 before market open. Register for our 8:30 AM ET webcast here.