Fnac Darty: S&P upgrades outlook

(CercleFinance.com) - Fnac Darty reports that Standard & Poor's has upgraded its outlook from 'negative' to 'stable' on its 'BB+' rating, due to a solid operating performance, a strengthened competitive position and a prudent and controlled financial policy.


The group has also obtained the unanimous agreement of its banks to extend the maturity of its RCF revolving credit line and its DDTL credit line, for a cumulative amount of E600m, from March 2028 to March 2030.

This extension involves the addition of two one-year extension options, to March 2031 and March 2032, exercisable at Fnac Darty's request and subject to the lenders' approval.

In addition, certain terms and conditions of these credit lines have been amended to reflect the group's new profile following the acquisition of Unieuro. Neither credit line has been drawn down to date.


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