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Standard and Poor’s downgraded the end of April the debt long-term rating of Auchan, considering a difficult return the dispenser to its historic levels of profitability. In March, the agency had already sanctioned Casino
According to S & amp;. P Global Ratings (the new name for Standard and Poor’s), it is the “operational weaknesses” of Auchan in France and Western Europe problematic.
prospects for growth in China and Eastern Europe are not sufficient, said the agency hoped to offset the difficulties of distributor in its main market
on April 28, S & amp;. P Global Ratings has therefore adjusted downward notes the long-term debt Auchan, which increased from A- to BBB +. The BBB category qualifies operators “able to meet their financial obligations” , but “likely to be weakened” by changing market conditions.
On March 21, S & amp; P Global Ratings had already attacked Casino, whose rating fell from BBB- to BB +. This time because of the difficulties of the International Distributor, particularly in Brazil, the impact of which is not compensated by the prospects of recovery in France. With a BB rating, companies fall into the first speculative categories considered more sensitive to external risks.
the notes of other distributors
for comparison, and to relativize the downgrade of Auchan, Carrefour is already placed in the category since 2014 BBB + by S & amp;. P Global Ratings
The world’s largest retailers themselves are rated AA (Walmart), AA- (Amazon) or A + (Costco). Kroger is rated BBB and a Tesco a BB + as Casino, in 2015.
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