Get the app today! Download iPhone App Download Android App

Groupe Casino Challenges Standard & Poor's Rating Downgrade

Published on Sep 4 2018 2:35 PM in Retail tagged: Featured Post / Casino / Muddy Waters / Paywall / Ratings / Standard & Poor's

Groupe Casino Challenges Standard & Poor's Rating Downgrade

Groupe Casino has sought to challenge Standard & Poor's downgrade of the retailer's financial rating by one notch to BB, negative perspective.

The group said that the rating agency's assessment does not take into account an ongoing €1.5 billion disposal plan at the business, and that the rating change has no impact on the cost of Casino's bond debt, and does not affect its liquidity.

The rating change came following a share price decline sparked by a tweet by short seller Muddy Waters Research, which indicated that Groupe Casino's Finance subsidiary had not yet filed its 2017 accounts.

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 LinkedIn Share via Email