Casino: Moody's downgrades rating
(CercleFinance.com) - Casino has announced Moody's decision to downgrade its financial rating from Ba1 with a negative outlook to Ba3 with a negative outlook, pointing out that this change has no impact on the availability or cost of its financial resources.
The food retailer adds that Moody's analysis does not take into account either the group's disposal program nor the future reduction of its bond debt.
At 31 December 2018, Casino had 5 billion euros in cash in France. It points out that it recently increased the target of its asset disposal plan from one billion euros to at least 2.5 billion euros by the first quarter of 2020.
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The food retailer adds that Moody's analysis does not take into account either the group's disposal program nor the future reduction of its bond debt.
At 31 December 2018, Casino had 5 billion euros in cash in France. It points out that it recently increased the target of its asset disposal plan from one billion euros to at least 2.5 billion euros by the first quarter of 2020.
Copyright (c) 2019 CercleFinance.com. All rights reserved.