European Retailers' Credit Prospects Are Weakening, Says Report Feb 12
- ID: 2047930
- February 2012
- Region: Europe
- Standard & Poors
PARIS (Standard & Poor's) Feb. 2, 2012--The credit outlook for Europe's retail industry will become more negative this year as a weak economic environment dampens consumer spending, says Standard & Poor's Ratings Services today in the report "Weak Consumer Spending Clouds European Retailers' Credit Outlook." "We forecast that European retailers' organic sales could decline by as much as 5% this year," said Standard & Poor's credit analyst Michael Seewald, depending on a company's geographic and segment exposure. "This will add to pressures on business risk profiles and could lead to further downward rating and outlook actions, in our view." Retailers operating in zones hardest hit by austerity measures, or segments that rely most on discretionary spending such as electronic retail...
Companies mentioned in this report are:
- Casino Guichard - Perrachon & Cie S.A.
- Carrefour S.A.
- Tesco PLC
- Delhaize Group S.A.
- Missouri TopCo Ltd.
- Co-operative Group Ltd.
- Phones4u Finance PLC
Action: General Comment
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Research type: News
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