(CercleFinance.com) – Moody’s announced on Tuesday that it had raised the outlook attached to Vivendi’s ‘Baa2’ credit rating from ‘negative’ to ‘stable’, the rating agency welcoming the repositioning operated by the media group.
The financial rating agency explains that it took note of the authorization granted last month by the European Commission with a view to carrying out its proposed merger with Lagardère.
Moody’s praises the reorientation of Vivendi’s business model following the split from Universal Music Group and the acquisition of Lagardère, which did not prevent it from maintaining its financial parameters globally unchanged.
It also highlights the group’s solid positioning on its markets and the prospect of a reduction in its debt, as well as its rich portfolio of listed assets, the value of which more than exceeds the amount of its financial debt.
Vivendi announced this morning that it has entered into exclusive negotiations with Le Figaro for the sale of Gala magazine, currently owned by its subsidiary Prisma Media.