Johnston Press PLC Ratings Withdrawn Following Ongoing Administration

  • On March 14, 2019, S&P Global Ratings withdrew its 'D' long-term issuer credit ratings on U.K. based publisher Johnston Press PLC.
  • We also withdrew the 'D' issue rating on the senior secured notes issued by Johnston Press Bond PLC.
LONDON (S&P Global Ratings) March 14, 2019--S&P Global Ratings today took the 
rating actions listed above. We have withdrawn the ratings on Johnston Press 
PLC and Johnston Press Bond PLC following the ongoing administration of the 
group. This follows Johnston Press PLC entering a pre-pack administration on 
Nov. 17, 2018, whereby a newly incorporated group JPI Media, controlled by the 
group's noteholders, acquired substantially all of Johnston Press' assets. Due 
to the ongoing administration and restructuring, we are withdrawing all 
ratings on the group. For our previous analysis, see "U.K.-Based Johnston 
Press PLC Ratings Lowered To 'D' On Administration Filing," published Nov. 21, 
2018.