Fitch maintained its rating ‘BBB +’ with a prospect on Carrefour ‘stable’, and notes ‘BBB-’ Casino, along with a perspective ‘stable’ also.
The rating agency recognizes that operating margins Carrefour are lower than those of its competitors, but these will gradually improve in his view because of the strategic transformation of the group, particularly on the domestic market.
Particularly because it is more exposed to emerging markets and flows more non-food items, Casino therefore has more consistent operating margins. The distributor, however, less emphasis on organic growth than its competitor and its dependence on its restructuring and acquisitions via equity investments, resulted in a less attractive financial profile.
Ultimately, Carrefour has reduced prospects of its debt leverage stronger than Casino, said Fitch.
A reversal of the trend, the title Carrefour gleans 0.1% to 17.00. At the same time, the action Casino gives about 0.9%.
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