Promotora de Informaciones S A : PRISA obtains its credit rating from S&P and Fitch
September 28, 2018 at 02:07 pm EDT
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After the capital increase and the agreement reached with the bank creditors to refinance its debt, PRISA goes one step further in its financing transparency by obtaining the credit rating of the Group from two internationally recognized agencies. Such agencies assign a rating of 'B' with a stable outlook (Fitch) and 'B-' with a stable Outlook (S&P), ratings that are in line with the ones obtained by other companies in the same industry.
These ratings are an acknowledgment of the significant improvement in the Group's financial situation, as well as the strength of its business. In addition, they increase PRISA's financial transparency in the capital markets.
In their reports, said agencies highlight (i) the leading position of PRISA both in the educational business of K-12 and the media business, in Spain and Latin America; (ii) the notable reduction of its indebtedness throughout the year 2018, and (iii) the commitment of the management team to continue with the deleveraging policy announced publicly in the last presentation of the Group's results.
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Grupo PRISA - Promotora de Informaciones SA published this content on 28 September 2018 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 28 September 2018 18:06:08 UTC
Promotora de Informaciones SA (PRISA) is a Spain-based company primarily engaged in the consumer publishing sector. The Companyâs activities are divided into four business segments: Education, which focuses on the sale of educational books, as well as services and materials related to the education systems under Santillana brand name; Radio, which operates radio network stations, such as Cadena Ser, Kebuena and ADN Radio, as well as organizes and manages entertainment events; Press, which includes the release and distribution of newspapers, magazines, supplements, collectible products and other periodical publications, such as El Pais, Cinco Dias and El Huffington Post, and Audiovisual, which provides cable and satellite television services intended for the production of audiovisual content, as well as production and marketing of digital content for news, entertainment and education. PRISA operates in Spain, Portugal, Chile, Colombia, Brazil and Mexico, among others.