Fitch Ratings upgraded RELX PLC's short-term issuer default rating to F1 from F2, citing the British company's robust liquidity, following the rating agency's new criteria for short-term ratings. Fitch also removed the rating from "Under Criteria Observation."
Fitch said that RELX's stable cash flow resulted from structural factors and strategic execution, supporting the company's credit profile and rating.
While leverage is expected to rise in 2019, it is likely to remain within the rating agency's limits.
The company deploys an organic expansion growth strategy that reduces the risk on use of free cash flow, according to the agency.
