Universal Music Group received two strong ratings by credit ratings agencies on Tuesday, the company’s first as a stand-alone company since spinning off from Vivendi last September.
UMG an A-2 short term credit rating and BBB long term credit rating with stable outlook. A-2, S&P’s second-highest short-term credit rating, means the company has a “satisfactory” capacity to meet its financial commitments. S&P defines BBB as having “adequate capacity to meet financial commitments, but more subject to adverse economic conditions” than AAA, AA and A long-term ratings.
Both Moody’s and S&P believe UMG will post a mid-single-digit growth rate in the coming two years . Both agencies based their rating on the growth coming from increased consumer adoption of on-demand streaming platforms and new licensing opportunities in social media, fitness and gaming.
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