Get the app today! Download iPhone App Download Android App

Morrisons' Momentum Continues With Moody's Ratings Upgrade

Published on Jan 19 2018 10:39 AM in Retail tagged: Trending Posts / UK / Morrisons / David Potts / Moody's / Paywall

Morrisons' Momentum Continues With Moody's Ratings Upgrade

UK retailer Morrisons has continued its promising start to 2018 with the news that ratings agency Moody's has upgraded the retailer to a Baa2 rating (from Baa3).

The move follows strong Christmas and New Year sales at the retailer, which posted a 2.8% increase in sales over the ten week period to 7 January, with retail contributing 2.1% to this figure.

"Our decision to upgrade the ratings of Morrisons reflects a sustained period of improving operational performance by the company and a stronger credit profile," commented David Beadle, a Moody's Vice President - Senior Credit Officer and lead analyst for Morrisons.

please subscribe or sign in to continue reading

image description

Try European Supermarket Magazine PREMIUM – 30 Day FREE Trial.

A trial subscription gives unrestricted access to all premium site content, app content, weekly email content and European Supermarket Magazine digital edition for a full 30 days. Try it now!

Share on Facebook Share on Twitter Share on Google+ Share on LinkedIn Share on Tumblr Share via Email