Moody’s confirms Reed debt rating

Moody’s Investors Service Inc. said it confirmed the debt ratings of Reed Publishing (USA) Inc., based on the structure of the new group, the joint and several guarantees from both parent companies, Reed Intl.

PLC and Elsevier N.V., as described in the shareholder circular and the strength and financial flexibility of the combined group.

The confirmation concludes the review for possible downgrade of Reed Publishing’s ratings, and about $ 725 million of long-term debt is affected, Moody’s said.

Moody’s said, “The merger will create one of the world’s largest publishing companies with largely complementary businesses which is expected to improve the product and revenue mix of the combined group.”

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