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JCDecaux Retain Important TfL Contract; Slight Credit Positive

COMMUNICATIONS

Baa3/BBB-

  • JCDecaux awarded an 8-year bus shelter ad contract from TfL, covering 4,700 shelters across all 33 London boroughs. The contract can extend for 2 years and starts in April 2025.
  • The 2016 contract won by JCDecaux was worth EUR 700mn across eight years (FY16 revenue was EUR 3.4bn for context).
  • No amounts given but we know this contract has been mentioned by some as a potential support for the equity and credit though we don’t expect a sharp move in spreads on the news.
Credit BulletsBulletHomepagemarkets-real-timeCredit
Credit BulletsBulletHomepagemarkets-real-timeCredit

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