Casino-S & P lowers the casino credit rating of “BBB-” to “BB +” – Boursorama

 (RPT title) PARIS, March 21 (Reuters) – The rating agency Standard & amp; Poor’s said Monday it lowered its credit rating on Casino CASP.PA, which changes from “BBB-” to “BB +” with a stable outlook. The distributor has reacted to this announcement by confirming in a statement its forecast of Ebitda France of € 900 million in 2016 and “fast tracking the implementation of its debt reduction plan.” The completion of the sale of the group’s participation in BIGC.BK Big C in Thailand for 3.1 billion euros is “imminent” and the sales process activities in Vietnam is progressing “satisfactorily”, a-t- he adds. Casino also stressed that the lowering of  its credit rating would result in a slight increase in the cost of its bond debt, with an impact estimated at less than € 20 million before tax in 2016 off future bond redemptions already mentioned by the group, and had no effect on liquidity. “The group reaffirms its operational perspectives, focused mainly on profitable growth in France and consolidate its leadership in Latin America where the development of its activities based both on distribution and commercial real estate.” (Benjamin Mallet and Juliette Rouillon, edited by Veronique Tison) 

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