Schibsted ASA (SCHA/SCHB) - Scope affirms Schibsted ASA’s BBB issuer rating and revises the Outlook to Positive
Scope Ratings GmbH (“Scope”) has today affirmed Schibsted ASA’s (“Schibsted”) issuer rating at BBB and revised the outlook to Positive from Stable. Scope has also affirmed Schibsted’s short-term debt rating at S-2 and its senior unsecured debt rating at BBB.
The Outlook is Positive, reflecting Scope's expectation that the reorganisation of the company with the divestment of its news media operations and the partial sale of Adevinta shares, the proceeds of which will partly be used to repay debt, combined with the refocusing of Nordic Marketplaces on verticals, will lead to a strong improvement in credit metrics, exemplified by Scope-adjusted Debt/EBITDA below 2x in the medium term.
The latest information on the rating, including rating reports and related
methodologies, is available at: https://scoperatings.com/ratings-and-research/rating/EN/177242
Oslo, 13 June 2024
SCHIBSTED ASA
Disclosure regulation
This information is subject to the disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act.
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