Bertelsmann SE & Co KGaA (BTGGg.F)
20 Jan 2017
(The following statement was released by the rating agency) LONDON, January 19 (Fitch) Fitch Ratings says Bertelsmann has sufficient headroom within its 'BBB+' rating to increase its stake in Penguin Random House (PRH) or accommodate an increase in leverage at PRH. However, the latter scenario would remove headroom in the rating in the short-term.. Pearson has announced that they intend to issue an exit note regarding its 47% stake in PRH that it holds in a venture with Bertelsmann, with a v
* Bertelsmann owns 53 pct of Penguin Random House (Adds CEO, analyst comment, background)
FRANKFURT, Jan 18 German media group Bertelsmann may raise its stake in book publisher Penguin Random House, its joint venture with Britain's Pearson, it said on Wednesday after Pearson said it intended to issue an exit note.