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

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

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.

Stay Connected With Our Weekly Newsletter

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
Enjoy unlimited digital access for 30 days
Get exclusive access to the latest grocery retail & FMCG news, interviews with industry leading executives, and expert analysis on the trends shaping the sector today
Enjoy unlimited digital access for 30 days
Enjoy unlimited digital access for 30 days
Get exclusive access to the latest grocery retail & FMCG news, interviews with industry leading executives, and expert analysis on the trends shaping the sector today
Enjoy unlimited digital access for 30 days