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S&P upgardes Warner Music Group on 'strong' operating performance

S&P Global Ratings on March 14 upgraded Warner Music Group Corp.'s issuer credit rating to BB- from B+ on "strong" operating performance and "positive" growth trends in the music industry.

The outlook on the company is stable.

The rating agency lifted the issue-level rating on the company's senior secured debt to BB- from B+, while the issue-level rating on the senior unsecured notes was raised to B+ from B.

The stable outlook reflects the expectation that the company will continue to experience high-single-digit percent revenue growth over the next 12 months mainly from digital streaming, mirroring music industry growth trends.

This S&P Global Market Intelligence news article may contain information about credit ratings issued by S&P Global Ratings. Descriptions in this news article were not prepared by S&P Global Ratings.