Universal Music Group NV Announces Baa1/BBB Long-Term Credit Ratings from Moody’s and S&P
HILVERSUM, Netherlands, May 31, 2022 /PRNewswire/ — Universal Music Group NV (“UMG” or the “Company”) today announced that Moody’s Investors Service (“Moody’s”) has assigned a Prime-2 short-term credit rating and a rating Baa1 with stable outlook to UMG and S&P Global Ratings (“S&P”) have assigned the Company a short-term credit rating of A-2 and a long-term credit rating of BBB with stable outlook.
UMG considers these Investment Grade ratings as support for its financing strategy and is committed to maintaining an Investment Grade rating.
Boyd MuirEVP, CFO and Chief Operating Officer of UMG, said: “We are delighted that in the inaugural ratings since our IPO, rating agencies have recognized our strong credit attributes. Both agencies have highlighted our leadership in music industry, top-notch catalog best, recurring and well-diversified revenue streams and low leverage are the primary drivers of these strong ratings.The Baa1/BBB rating assignment is another positive recognition in our early days as an independent, publicly traded company.”
UMG was advised by Bank of America during both credit rating processes.
Full press releases are available on Moody’s and S&P websites.
About Universal Music Group
At Universal Music Group (EURONEXT: UMG), we exist to shape culture through the power of art. UMG is the world leader in music entertainment, with a wide range of businesses active in recorded music, music publishing, merchandising and audiovisual content. Featuring the most comprehensive catalog of recordings and songs across all musical genres, UMG identifies and develops artists and produces and distributes the most critically acclaimed and commercially successful music in the world. Committed to art, innovation and entrepreneurship, UMG fosters the development of services, platforms and business models to expand artistic and business opportunities for our artists and create new experiences for fans. For more information about Universal Music Group NV, visit www.universalmusic.com.
James Murtagh Hopkins – [email protected]
Erika started – [email protected]
This press release may contain statements that constitute forward-looking statements regarding the financial condition, results of operations, businesses, strategy and plans of UMG. These forward-looking statements can be identified by the use of words such as “expect”, “estimate”, “project”, “anticipate”, “should”, “intend”, “plan”, “probability ‘, ‘risk’, ‘target’, ‘goal’, ‘objective’, ‘will’, ‘effort’, ‘optimistic’, ‘outlook’ and similar expressions or variations of these expressions. Although UMG believes that these forward-looking statements are based on reasonable assumptions, they are not guarantees of future performance. Actual results may differ materially from these forward-looking statements due to a number of risks and uncertainties, many of which relate to factors beyond UMG’s control, including, but not limited to, the failure of UMG to successfully compete and identify, attract, recruit and retain successful artists and songwriters, failure to adopt streaming and subscriptions or grow or grow slower than expected revenues, UMG’s dependence on digital service providers, UMG’s inability to execute its business strategy, the global nature of UMG’s operations, UMG’s inability to protect its intellectual property and against piracy, UMG’s inability to attract and retain key personnel, legislative and regulatory changes and other risks that have been described in UMG’s 2021 Annual Report. Accordingly, UMG cautions readers against placing undue reliance on these forward-looking statements. These forward-looking statements are made as of the date of this press release. UMG disclaims any intention or obligation to provide, update or revise these forward-looking statements, whether as a result of new information, future events or otherwise.
SOURCEUniversal Music Group NV