Food Industry News

S&P downgrades Auchan to stable 'BBB +'

The rating agency Standard & Poor's has downgraded the long-term corporate rating of the French retailer Auchan (Auchan) and its division Banque Accord from A– to BBB + with a “stable” outlook, RNS reports citing the agency's message.

“The rating downgrade is related to the difficult economic environment in Auchan base markets in Western Europe in 2015, and reflects our view that the group will not be able to maintain or restore profitability at a historical level,” the agency reports. At the same time, the agency expects an improvement in the company's results in China and in a number of countries in Eastern Europe, but believes that this will not be able to compensate for the decline in the main markets.

"We have revised our ratings of Banque Accord, because we associate them with ratings of Auchan," the report says.

See also ... 01/09/2015 Profit of Auchan decreased 2 times in the first half of the year 11/02/2013 French chains recalled products, where instead of beef they found horse meat / 18 Metro AG affirms the S&P rating with a stable outlook 04/2012/05 S&P upgrades Kazakhstan's rating 12/2012/09 Auchan will expand its business in Russia 11/2011/18 Carrefour's net profit in 04 fell by 2016% 11/03/2016 During France was banned from throwing away unsold food2015/17/05 Auchan plans to open malls in Kiev and Odessa02/2016/01 Auchan in the militia: how a retailer works in Donetsk04/2015/26 Russian Auchan will open the first franchise in the CIS03/2015/30 "Will become co-owners of the business 01/2015/20" Auchan "is accused of producing unsafe pizza 04/2016/03 Shock forecast for the Belarusian" bunny "08/2015/10 Carrefour has grown due to Spain, Italy and Brazil

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