Casino said S & amp; P confirmed its rating ‘BBB-’ together with a prospect “stable” despite the recent deterioration of Brazil.
S & amp; P, the deterioration of the sovereign rating of Brazil last week had no impact on the credit quality of the distributor, which generates 39% of its turnover in the country.
The agency said he took into account the great resistance of the economic model of the group and GPA, its Brazilian subsidiary, at the deteriorating macroeconomic outlook in Brazil.
S & amp; P Brazil had indicated earlier this week to maintain its rating ‘AA +’ on GPA, with ever-positive outlook.
The agency particularly welcomes the very positive effects of the transaction with Exito this summer, which has reduced the debt of France, bridgehead of the group, very significantly (1, 7 billion).
The action Casino Thursday morning lost 0.3% to 47.6 euros on the Paris Bourse.
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