September 20, 2018

Carrefour Downgraded By Fitch

Fitch Ratings, the financial rating company, has downgraded Carrefour S.A.’s (Carrefour) rating to ‘BBB+’ from ‘A-’ and removed the ratings from Rating Watch Negative (RWN). The downgrade comes after Carrefour’s confirmation that it expects to post a drop of about 35% of its current operating income in France in the first half of 2011. The Negative Outlook reflects Carrefour’s low rating headroom and weak credit metrics at ‘BBB+’.  The Outlook could return to Stable with market evidence of recovery on Carrefour’s performance in its core French market in term sales growth, market share, and group’s operating margin at about 3.5%-4% (3.3% as of FYE10).

Source of the news: Bucharest Herald (Read More)

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