Fnac Darty: Moody's upgrades outlook to 'stable'
(CercleFinance.com) - Moody's announced on Monday that it has upgraded the outlook associated with its "Ba2" credit rating for Fnac Darty from "negative" to "stable".
The rating agency said that it has taken note of the strong operational performance recorded by the company in 2020, particularly during the key Christmas period, despite restrictions relating to the coronavirus crisis.
"Si les conditions d'activité demeurent difficiles, avec certains magasins qui restent fermés depuis janvier 2021, nous nous attendons à ce que le ratio d'endettement de Fnac Darty s'améliore en repassant sous le seuil des 4x avec une situation de trésorerie qui devrait rester bonne au cours des 18 prochains mois", explique Guillaume Leglise, l'analyste en charge du dossier chez Moody's.
"While trading conditions remain challenging, with some store closures since January 2021 in France, we expect Fnac Darty's leverage to improve to below 4.0x and liquidity to remain good over the next 18 months," said the analyst responsible for monitoring the group at Moody's.
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The rating agency said that it has taken note of the strong operational performance recorded by the company in 2020, particularly during the key Christmas period, despite restrictions relating to the coronavirus crisis.
"Si les conditions d'activité demeurent difficiles, avec certains magasins qui restent fermés depuis janvier 2021, nous nous attendons à ce que le ratio d'endettement de Fnac Darty s'améliore en repassant sous le seuil des 4x avec une situation de trésorerie qui devrait rester bonne au cours des 18 prochains mois", explique Guillaume Leglise, l'analyste en charge du dossier chez Moody's.
"While trading conditions remain challenging, with some store closures since January 2021 in France, we expect Fnac Darty's leverage to improve to below 4.0x and liquidity to remain good over the next 18 months," said the analyst responsible for monitoring the group at Moody's.
Copyright (c) 2021 CercleFinance.com. All rights reserved.