Casino: confident despite S&P's downgrade
(CercleFinance.com) - Reacting to S&P's decision to downgrade its financial rating for the group by one notch to "BB" with a negative outlook, Casino says that this rating change will have no impact on the cost of its bond debt, and will not affect its liquidity.
Given the expected revenue from the ongoing disposal plan and its self-financing, the retail group has confirmed its aim of reducing net financial debt in France by 1 billion euros at end-2018, to reduce it to 2.7 billion euros.
The board of directors adds that “the group has operational resilience, financial strength and immediately accessible resources, which are not reflected in the current stock price.”
Copyright (c) 2018 CercleFinance.com. All rights reserved.
Given the expected revenue from the ongoing disposal plan and its self-financing, the retail group has confirmed its aim of reducing net financial debt in France by 1 billion euros at end-2018, to reduce it to 2.7 billion euros.
The board of directors adds that “the group has operational resilience, financial strength and immediately accessible resources, which are not reflected in the current stock price.”
Copyright (c) 2018 CercleFinance.com. All rights reserved.