French retailer Casino, whose shares fell sharply on Friday amid renewed concerns over its debt burden, disclosed on Monday the cash position of its Casino Finance unit.
The company also confirmed its 2018 financial targets and deleveraging goals after Standard and Poor's downgraded its rating on Casino by one notch from 'BB+' to 'BB', keeping a negative outlook. Shares in Casino, which have lost 45% since the start of the year, were up 2.4%, recovering from an earlier fall.
