Wolters Kluwer Receives Moodys Rating Upgrade to A3

Alphen aan den Rijn – March 30, 2023 – Moody's Investors Service (Moody's) has upgraded Wolters Kluwer N.V.'s senior unsecured ratings to A3 from Baa1. The outlook on the ratings remains stable. Wolters Kluwer (EURONEXT: WKL) is a leading software solutions and services provider.

According to Moody’s, the upgrade reflects Wolters Kluwer’s “strong operating performance and credit metrics, as well as its improved business profile and resiliency to economic cycles.” Further, the ratings agency noted that “the upgrade also reflects the corporate governance considerations associated with its track record in maintaining a conservative and predictable financial policy.”

Moody’s also noted that the A3 rating is “supported by the company's strong operating performance with steady organic revenue growth, driven by its focus on software and cloud-based solutions, as well as the progressive improvement of its business risk profile.”

The rating agency added that Wolters Kluwer “has consistently delivered positive and improving organic revenue growth since 2010. In 2022, Wolters Kluwer reported 6.2% organic revenue growth, higher than the 5.7% growth rate reported in 2021.”

Further, “the stable outlook reflects Moody's expectation that the company's operating performance will continue to be solid, resulting in positive organic revenue growth and strong free cash flow generation.”