Casino Group: Casino Group takes note of Moody's decision and remains focused on its strategic and financial objectives for 2...

Date : 02/04/2019 @ 19h13
Source : GlobeNewswire
Valeur : Casino Guichard Perrachon (CO)
Cours : 44.24  0.14 (0.32%) @ 11h56
Casino Guichard Perrachon Cours Graphique

Casino Group: Casino Group takes note of Moody's decision and remains focused on its strategic and financial objectives for 2...

Casino Group takes note of Moody's decision and remains focused on its strategic and financial objectives for 2019-2021

Paris, 2 April 2019,

Casino Group takes note of Moody's decision to downgrade its financial rating from Ba1 negative outlook to Ba3 negative outlook.
The Group notes that Moody's bases its analysis on Casino's gross debt at the end of 2018, which does not take into account either the disposal plan or the future reduction in bond debt.

Moody's also states that the Group is well positioned in convenience formats and online activities, and that it has the potential to generate new sources of revenues, particularly through its Greenyellow and 3W relevanC subsidiaries.
In addition, Moody's positively highlights the Group's limited and decreasing exposure to the declining hypermarket format.

This change in rating has no impact on the availability or cost of the Group's financial resources.
As at 31 December 2018, Casino in France had €5.0 billion in liquidity, composed of a gross cash position of €2.1 billion and confirmed credit lines of €2.9 billion with an average maturity of 2.4 years.

The Group, focused on the dynamic achievement of the strategic and financial objectives announced for 2019-2021, has recently increased its asset disposal plan target by €1 billion to at least €2.5 billion by the first quarter of 2020. It also plans to generate, beyond and above this disposal plan, free cash-flow in France of €500 million per year, enabling it to cover its dividends and financial expenses.

ANALYST AND INVESTOR CONTACTS
Régine Gaggioli - +33 (0)1 53 65 64 17
rgaggioli@groupe-casino.fr
or

+33 (0)1 53 65 24 17
IR_Casino@groupe-casino.fr

 PRESS CONTACTS
Casino Group - Direction of Communication
Stéphanie ABADIE - sabadie@groupe-casino.fr - +33 (0)6 26 27 37 05

or

+33(0)1 53 65 24 78 - directiondelacommunication@groupe-casino.fr

Agence IMAGE 7
Karine ALLOUIS  -  +33(0)1 53 70 74 84 - kallouis@image7.fr
Grégoire LUCAS - gregoire.lucas@image7.fr

Disclaimer

This press release was prepared solely for information purposes, and should not be construed as a solicitation or an offer to buy or sell securities or related financial instruments. Likewise, it does not provide and should not be treated as providing investment advice. It has no connection with the specific investment objectives, financial situation or needs of any receiver. No representation or warranty, either express or implied, is provided in relation to the accuracy, completeness or reliability of the information contained herein. It should not be regarded by recipients as a substitute for the exercise of their own judgement. All the opinions expressed herein are subject to change without notice.


2019 04 02 - Casino Group takes note of Moody's decision



This announcement is distributed by West Corporation on behalf of West Corporation clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Groupe Casino via Globenewswire

Casino Guichard Perrachon (EU:CO)
Graphique Historique de l'Action

1 an : De Oct 2018 à Oct 2019

Plus de graphiques de la Bourse Casino Guichard Perrachon

Casino Guichard Perrachon (EU:CO)
Graphique Intraday de l'Action

Aujourd'hui : Lundi 21 Octobre 2019

Plus de graphiques de la Bourse Casino Guichard Perrachon
Dernières Valeurs Consultées
EU
GLE
Société Gé..
EU
ALU
ALCATEL-LU..
EU
PX1
CAC 40
ORA
Orange
FX
EURUSD
Euro vs Do..
Les dernières valeurs consultées apparaîtront dans cette boîte, vous permettant de choisir facilement les titres vus auparavant.


Inscrivez-vous maintenant pour créer votre liste d'actions personnalisée, en streaming.

Les cours EURONEXT (CAC 40, etc. ) et FOREX (les devises) sont en direct si connecté.
NYSE, AMEX, et ASX sont en différé d'environ 20 minutes. Les autres cours sont en différé d'environ 15 minutes.

En accédant aux services disponibles de ADVFN, vous acceptez les Conditions Générales de ADVFN Conditions Générales

P: V:fr D:20191021 10:11:24