Fitch assigns Interpublic notes BBB

Fitch Ratings said it assigned a BBB rating to Interpublic Group of Cos., Inc.'s proposed 10-year senior unsecured notes.

Interpublic's issuer default rating is BBB and the outlook is stable.

This transaction prefunds the repayment of Interpublic's $350 million 6.25% senior unsecured notes due Nov. 15, 2014. Fitch expects any additional proceeds to be used for general corporate purposes.

The transaction, as proposed, is expected to be credit neutral as it is not expected to materially change leverage while extending maturities, the agency said.

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