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.'

About Wolters Kluwer

Wolters Kluwer (EURONEXT: WKL) is a global leader in professional information, software solutions, and services for the healthcare, tax and accounting, financial and corporate compliance, legal and regulatory, and corporate performance and ESG sectors. We help our customers make critical decisions every day by providing expert solutions that combine deep domain knowledge with specialized technology and services.

Forward-looking statements and other important legal information

This report contains forward-looking statements. These statements may be identified by words such as 'expect', 'should', 'could', 'shall' and similar expressions. Wolters Kluwer cautions that such forward-looking statements are qualified by certain risks and uncertainties that could cause actual results and events to differ materially from what is contemplated by the forward-looking statements. Factors which could cause actual results to differ from these forward-looking statements may include, without limitation, general economic conditions; conditions in the markets in which Wolters Kluwer is engaged; behavior of customers, suppliers, and competitors; technological developments; the implementation and execution of new ICT systems or outsourcing and legal, tax, and regulatory rules affecting Wolters Kluwer's businesses, as well as risks related to mergers, acquisitions, and divestments. In addition, financial risks such as currency movements, interest rate fluctuations, liquidity, and credit risks could influence future results. The foregoing list of factors should not be construed as exhaustive. Wolters Kluwer disclaims any intention or obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.


Paul Lyon


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