S&P raises its rating for Fnac Darty to BB
Source: Nasdaq GlobeNewswire / 12 Mar 2019 03:10:21 America/New_York
Ivry, March 12, 2019
S&P raises its rating for Fnac Darty to BB+
Fnac Darty announces that Standard & Poor's (S&P) has raised the Group's long-term credit rating to BB+.
This upgrade recognizes the strength of the Group's operational performance and a well-managed financial policy.
Fnac Darty now benefits from BBB-, BB+ and Ba2 ratings, assigned respectively by Scope Ratings, Standard & Poor's and Moody's, all with a stable outlook.
Enrique Martinez, Chief Executive Officer of Fnac Darty, stated:
"The Group's credit rating upgrade reflects the relevance of our multi-channel specialist model, benefiting from the combination of two iconic brands and a successful operational integration.
In a retail sector facing profound changes, we are proud of S&P's confidence in our ability to achieve our strategic ambitions. Our teams are committed to the continuing roll-out of our Confiance+ strategic plan, in order to further strengthen our operational and financial profile."
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+33 (0)1 55 21 57 10This announcement is distributed by West Corporation on behalf of West Corporation clients.
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Source: Fnac Darty via Globenewswire