Standard & Poor's demotes X5 Retail Group
The international rating agency demoted the long-term credit rating of X5 Retail Group N.V. – the proprietor of a major retail grocery chain – and its daughter enterprises from BB- down to B+. the rating outlook is Stable.
The rating of the company’s priority unsecured ruble bonds (issued by the daughter enterprise X5 Finance) was reduced from BB- to B+ and placed on CreditWatch with Negative outlook. What’s more, the ratings of X5 Finance and Agrotorg were called off altogether.
The rating of the company’s priority unsecured ruble bonds (issued by the daughter enterprise X5 Finance) was reduced from BB- to B+ and placed on CreditWatch with Negative outlook. What’s more, the ratings of X5 Finance and Agrotorg were called off altogether.
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