Moody’s gives Baa2 to IPG revolver

Moody's Investors Service said it assigned a Baa2 rating to Interpublic Group of Cos., Inc.'s (IPG) new $1.5 billion revolving credit facility and withdrew the Baa2 rating on the old $1 billion revolver.

The company's Baa2 senior unsecured rating, Prime-2 commercial paper rating and stable outlook are unchanged.

IPG amended its existing credit agreement to increase the size of its revolver to $1.5 billion from $1 billion and extend the maturity to October 2022 from October 2020. Other than these changes, the credit agreement retains the same terms, conditions and covenants as before, Moody’s said.

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