Subscribe Login
DE4CC0DE-5FC3-4494-BCBF-4D50B00366B5
Retail

Groupe Casino Challenges Standard & Poor's Rating Downgrade

By Steve Wynne-Jones
Share this article
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
ESM

30 Day Free Trial

Try European Supermarket Magazine Premium

Enjoy full access to European Supermarket Magazine, our weekly
email news digest, access to all website and app content, and the latest digital
magazine for a full 30 days.

  • - Payment details required during trial sign up.
  • - You may cancel at any time up to the end of the 30-day trial period.
  • - If you continue after the trial perion, then the annual rate of €109+VAT will be debited.
Get the week's top grocery retail news

The most important stories from European grocery retail direct to your inbox every Thursday

Processing your request...

Thanks! please check your email to confirm your subscription.

By signing up you are agreeing to our terms & conditions and privacy policy. You can unsubscribe at any time.