Research Update: Co-operative Group Downgraded To 'BB+' On Tough Market Conditions And Weaker Credit Metrics; Outlook Stable Oct 12
- Language: English
- Published: October 2012
The Co-operative Group Ltd. (Co-operative) is a leading operator of U.K. convenience food stores, pharmacies, and funeral parlors. It also owns a suite of other retail, commercial, and financial services businesses. We assess Co-operative as having a satisfactory business risk profile and a significant financial risk profile. We are assigning our 'BBB-' long-term corporate credit rating to Co-operative. The stable outlook reflects our view that Co-operative will sustain positive sales growth of at least low single digits in the near term. LONDON (Standard & Poor's) May 6, 2011--Standard & Poor's Ratings Services said today that it assigned its 'BBB-' long-term corporate credit rating to U.K. retailer and mutual The Co-operative Group Ltd. (Co-operative). The outlook is stable. The rating on...
Companies mentioned in this report are: Co-operative Group Ltd.
Action: New Rating
Action: Outlook: Stable
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.