(Finance) – Fitch Ratings confirmed the Long-Term Issuer Default Rating (IDR) Of S&P Global to “TO-“with outlook “stable“. The rating is supported by high barriers to entry, strong financial flexibility and relatively modest leverage, it said in a statement.
S&P ended 2023 with a EBITDA leverage of 2.1x, slightly above Fitch’s expectations. However, Fitch expects this metric to fall below 2.0x during 2024. S&P reported $619 million of synergies fully operational costs obtained from the merger with IHS Markit; this will result in margin expansion during 2024.
The company has a strong liquidity position and generates significant liquidity that provides strong credit protection.