Moody's downgrades JCDecaux to Baa3 from Baa2; outlook stable
Rating Action: Moody's downgrades JCDecaux to Baa3 from Baa2; outlook stable. Global Credit Research- 18 Mar 2021. Madrid, March 18, 2021-- Moody's Investors Service has today downgraded to Baa3 from Baa2 the long-term issuer rating and to Baa3 from Baa2 the senior unsecured notes ratings of JCDecaux S.A., the world's largest outdoor advertising company.JC Decaux specializes in outdoor advertising. Co.'s business mainly consists of the sale of advertising space for these activities: Street Furniture, Transport Advertising and Billboard. The Street Furniture segment covers the advertising agreements relating to public property entered into with cities and local authorities. It also includes advertising in shopping centers, renting of street furniture, sale and rental of equipment, cleaning and maintenance. The Transport Advertising segment covers advertising in airports, subways, buses, tramways and trains. The Billboard segment covers advertising on private property and neon-type activity.
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