S&P Global Ratings lowered its long-term issuer credit rating for Thomson Reuters Corp. to BBB from BBB+. The rating agency also affirmed the company's short-term issuer credit rating at A-2.
S&P Global Ratings also downgraded the company's senior unsecured debt rating to BBB from BBB+. Thomson Reuters' CreditWatch negative rating was removed because the company declared the sale of majority stake in its F&R business to Blackstone Group LP.
The rating outlook is stable.
The rating downgrade came as a result of "divesture of the [financial and risk] business, which accounted for more than half of Thomson Reuters' consolidated revenue and EBITDA in 2017."
This S&P Global Market Intelligence news article may contain information about credit ratings issued by S&P Global Ratings, a separately managed division of S&P Global. Descriptions in this news article were not prepared by S&P Global Ratings. The original S&P Global Ratings documents referred to in this news brief can be found here.