S&P Global Ratings on Jan. 25 placed Nielsen Holdings plc's BB+ corporate credit rating and the BB+ issue-level rating on the company's senior unsecured debt on CreditWatch with negative implications.
The rating agency's BBB- issue-level rating on Nielsen's senior secured bank debt remains unaffected. Also, S&P assigned its BB+ issue-level on Nielsen unit The Nielsen Co. (Luxembourg) S.ar.l.'s proposed $500 million senior unsecured notes due 2025 and placed the ratings on CreditWatch negative.
The ratings actions reflect Nielsen's "persistently elevated leverage levels" that are above the agency's threshold for the BB+ corporate credit rating.
S&P Global Ratings and S&P Global Market Intelligence are owned by S&P Global Inc.