S&P Global Upgrades Stagwell's (STGW) Credit Rating to BB- from B+, Citing Robust Organic Net Revenue Growth and Improving Leverage

NEW YORK, Aug. 22, 2022 /PRNewswire/ -- Stagwell (NASDAQ: STGW), the challenger network built to transform marketing, announced that S&P Global has upgraded the company's credit rating from B+ to BB-, noting the Company's improving leverage and robust net organic revenue growth.  

"S&P's upgrade is a testament to our team's financial and operational management. We continue to demonstrate strong progress and growth as we emerge as a powerful force in the digital transformation of marketing services," said Mark Penn, Chairman and CEO, Stagwell.

S&P's upgrade follows an upgrade in Stagwell's corporate family rating from Moody's Investors Service (Moody's) earlier this summer. Moody's at the time upgraded Stagwell's rating to B1 from B2; the profitability of default rating to B1-PD from B2-PD; senior unsecured notes rating to B2 from B3; and speculative grade liquidity rating to SGL-2 from SGL-3. Given the upgrade, Stagwell's outlook was also changed to stable from positive.

Stagwell is the challenger network built to transform marketing. We deliver scaled creative performance for the world's most ambitious brands, connecting culture-moving creativity with leading-edge technology to harmonize the art and science of marketing. Led by entrepreneurs, our 13,000+ specialists in 34+ countries are unified under a single purpose: to drive effectiveness and improve business results for their clients. Join us at?www.stagwellglobal.com. 

Contact:

Press:

Beth Sidhu
[email protected]
(202) 423-4414

Investors:

Michaela Pewarski
[email protected]
(646) 429-1812

SOURCE Stagwell Inc.