Summary: Metro AG Oct 08
Standard & Poors, October 2008
Abstract
The ratings on Germany-based diversified retailer Metro AG reflect its leading positions in cash-and-carry (C&C) and consumer electronics retailing in Europe. Offsetting these positive factors are Metro's substantial exposure to the competitive German retail market, and the group's financial risk profile, which Standard & Poor's Ratings Services assesses as intermediate. On Dec. 31, 2007, the company reported financial debt totaling -7.7 billion ($11.4 billion). With group sales of -64.3 billion in 2007, Metro is Germany's leading retailer and has both food and nonfood operations. The C&C division, which enjoys a world-leading position and unparalleled international presence, is the backbone of the group. In 2007, C&C accounted for 59% of EBIT, ahead of electronics retailing banner MMS (29%). The other businesses...
Companies mentioned in this report are: Metro AG
Action: Review
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.
This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.
Metro AG
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