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Interpublic Group of Companies, Inc. (The) -- Moody's rates IPG's new senior unsecured notes Baa2; outlook stable

Moody's Investors Service ("Moody's") has assigned Baa2 ratings to The Interpublic Group of Companies, Inc.'s ("IPG" or the "company") proposed senior unsecured notes totaling $2 billion. The assigned ratings are subject to review of final documentation and no material change to the size, terms and conditions of the transaction as advised to Moody's. The new notes are part of a $2.5 billion aggregate debt raise to fund the AMS acquisition, which increases pro forma financial leverage to roughly 4x total debt to EBITDA (incorporating Moody's adjustments and AMS LTM EBITDA).