In the News
Stagwell (STGW) Corporate Family Rating Upgraded by Moody's; Outlook is Stable Amid 'Good Operating Momentum'
Originally released on
NEW YORK – July 14, 2022 – Stagwell, the challenger network built to transform marketing, today shared that Moody’s Investors Service (Moody’s) has upgraded the company’s corporate family rating to B1 from B2. Additionally, Moody’s upgraded the profitability 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.
In a release from Moody’s, 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.
“This week’s upgrade is a positive development for Stagwell, reflecting the financial and operational transformation our corporate leaders have steered as we near the one-year anniversary of Stagwell’s formation,” said Mark Penn, Chairman and CEO, Stagwell.
Stagwell will report financial results for the three months ended June 30, 2022, on Thursday, August 4, before market open. Register for the earnings webcast at 8:30 AM E.T. the same day.
Stagwell is the challenger network built to transform marketing. We deliver scaled creative performance for the world’s most ambitious brands, connecting culture-moving creativity with leading-edge technology to harmonize the art and science of marketing. Led by entrepreneurs, our 12,000+ specialists in 34+ countries are unified under a single purpose: to drive effectiveness and improve business results for their clients. Join us at www.stagwellglobal.com.
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