Interpublic Downgraded to Junk
Bad news for Interpublic. S & P has lowered its rating to Junk status based upon operating performance challenges.
S&P credit analyst Alyse Michaelson said in a statement: "The downgrade is based on Interpublic's recent record of weak profitability and higher debt to [earnings], and the likelihood that restoring earnings prospects ... could take longer than anticipated." [via Crain's New York Business]