Moody's revises Nielsen's view to positive

Moody's Investors Service said it affirmed Nielsen Holdings plc’s Ba3 corporate family rating, Ba3-PD probability of default rating, Ba1 ratings on the senior secured bank credit facilities at Nielsen Finance LLC and Nielsen Holding and Finance BV, a Dutch borrower, and B2 ratings on the senior unsecured notes at Nielsen Finance and the Nielsen Co. (Luxembourg) Sarl.

Concurrently with this rating action, Moody's withdrew the rating on the $150 million outstanding 5˝% senior notes due 2021, which have been fully repaid.

The outlook was revised to positive from negative.

“The revision of the outlook to positive from negative is forward-looking and reflects Moody's view that Nielsen will prioritize deleveraging via a combination of debt reduction with free cash flow generation and EBITDA growth in the mid-single digit percentage range leading to leverage approaching 3.7x (Moody's adjusted) and adjusted EBITDA margins rising to the 42%-44% area by 2022,” Moody’s said in a news release.

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