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Omnicom Says COVID-19 Impact May Be Material

Omnicom Group Inc. (OMC) said it is unable to predict the impact of COVID-19 on its operations and liquidity, and depending on the magnitude and duration of the COVID-19 pandemic, such impact may be material.

Travel restrictions, limitations on public gatherings, and mandatory closures pose a risk that clients may reduce their demand for services and could result in a reduction in revenue, which would adversely affect its operations.

The company expects to experience a decrease in its cash flow from operations as a result of the impact of COVID-19. But it has a $2.5 billion multi-currency revolving credit facility expiring February 2025.

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