S&P might lift UBM

S&P said it placed its BBB-/A-3 long- and short-term corporate credit ratings and BBB- issue ratings on UBM plc on CreditWatch with positive implications.

The agency said the CreditWatch placement follows Informa plc’s announcement that it is in discussions regarding a possible offer to acquire all of the outstanding shares in UBM.

“The CreditWatch placement reflects our view that the potential combined group would have a bigger scale of operation, stronger geographical diversity, and larger show diversification as we understand there is no material overlap between the two entities' show portfolios,” S&P said in a news release.

“However, uncertainties remain on the completion of the transaction, as well on the pro forma debt financing of the combined group, and the integration of UBM into Informa's global exhibition operations.”

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