Fitch Downgrades Reed Elsevier to 'BBB+'; Outlook Stable

April 2, 2015 4:29 PM

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(The following statement was released by the rating agency) LONDON, April 02 (Fitch) Fitch Ratings has downgraded Reed Elsevier PLC's and Reed Elsevier NV's (together, Reed) Long-term Issuer Default Ratings (IDR) to 'BBB+' from 'A-'.

The Outlook is Stable. A full list of rating actions is available below. Reed's core business portfolio continues to perform strongly and in line with Fitch's expectations. The downgrade in Reed's ratings is triggered by management's propensity to accept slightly higher leverage levels to fund stron...

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