• S&P raises its rating for Fnac Darty to BB

    Source: Nasdaq GlobeNewswire / 12 Mar 2019 03:10:21   America/New_York

    Ivry, March 12, 2019

    S&P raises its rating for Fnac Darty to BB+

    Fnac Darty announces that Standard & Poor's (S&P) has raised the Group's long-term credit rating to BB+.

    This upgrade recognizes the strength of the Group's operational performance and a well-managed financial policy.

    Fnac Darty now benefits from BBB-, BB+ and Ba2 ratings, assigned respectively by Scope Ratings, Standard & Poor's and Moody's, all with a stable outlook.

    Enrique Martinez, Chief Executive Officer of Fnac Darty, stated:

    "The Group's credit rating upgrade reflects the relevance of our multi-channel specialist model, benefiting from the combination of two iconic brands and a successful operational integration.

    In a retail sector facing profound changes, we are proud of S&P's confidence in our ability to achieve our strategic ambitions. Our teams are committed to the continuing roll-out of our Confiance+ strategic plan, in order to further strengthen our operational and financial profile."

    ***

    CONTACTS
          

    ANALYSTS / INVESTORS  Stéphanie Constand stephanie.constand@fnacdarty.com
    +33 (0)1 55 21 18 63
      Adrien Brangier adrien.brangier@fnacdarty.com
    +33 (0)1 55 21 84 41
    PRESS Audrey Bouchard audrey.bouchard@fnacdarty.com
    +33 (0)1 55 21 59 25
      Claire Fournon claire.fournon@fnacdarty.com
    +33 (0)1 55 21 57 10



    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: Fnac Darty via Globenewswire

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