S&P Global Ratings on June 8 assigned Interpublic Group of Cos. Inc. a short-term corporate credit rating of A-2.
Interpublic Group recently proposed a maximum $1 billion commercial paper program, backed by the company's revolving credit facility. S&P considers the terms of the credit facilities to be aligned with its commercial paper criteria as they include the ability to make same-day drawings and diverse bank group participation.
The rating agency assigned an A-2 issue-level rating to the company's commercial paper program. S&P maintained Interpublic Group's BBB long-term corporate credit rating and stable outlook.
S&P Global Ratings and S&P Global Market Intelligence are owned by S&P Global Inc.