- Language: English
- 88 Pages
- Published: March 2011
- Region: Asia
Summary: Woolworths Ltd. Apr 09
- Published: April 2009
- Standard & Poors
The ratings on Australian-based retailer Woolworths Ltd. reflect the group's leading market and cost position in Australian supermarket retailing; its strong second position in New Zealand supermarket retailing; and its moderate geographic and business diversity. These factors are tempered by Woolworths' intermediate financial risk profile, which includes extensive off-balance-sheet operating-lease financing; management challenges associated with managing a large and diverse group of retail businesses; and the capital-intensive nature of its supermarket operations. Woolworths' credit profile is underpinned by significant market positions in Australian and New Zealand supermarket retailing. Duopoly-like characteristics in both markets moderate the competitive pressures compared with retailing in most other international markets. Woolworths' market-leading cost position in Australian supermarkets provides a significant competitive advantage, with the group's...
Companies mentioned in this report are: Woolworths Ltd.
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