Moody’s cuts Pearson debt

Moody's Investors Service said it downgraded the senior unsecured ratings of Pearson plc and its subsidiary Pearson Funding plc to Baa3 from Baa2.

The outlook is stable.

“Pearson has struggled to see any significant organic revenue growth since 2011 and its scale and scope of activities has also narrowed down over the years driven by several non-core asset disposals,” the agency said in a news release.

The agency added that the company's operating performance is likely to deteriorate more significantly in 2020 than Moody's had forecasted at the time of changing the outlook on the company's ratings to negative in March.

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