Get the app today! Download iPhone App Download Android App

Groupe Casino Reiterates ‘Strategic And Financial Objectives’ Following Moody’s Downgrade

Published on Apr 3 2019 10:49 AM in Retail tagged: Trending Posts / France / Groupe Casino / Moody's / Paywall / Downgrade

Groupe Casino Reiterates ‘Strategic And Financial Objectives’ Following Moody’s Downgrade

France’s Groupe Casino has reported that it remains ‘focused on its strategic and financial objectives’, following the news that Moody’s has downgraded the retailer by two notches.

Yesterday, Moody’s downgraded Casino from Ba1 negative to Ba3, with a negative outlook.

In a statement, Moody’s reported, ‘The free cash flows generated by Casino’s French operations fell well below Moody’s previous expectations, limiting the company’s ability to reduce its gross debt despite large asset disposals.’

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