• Moody's improves El Corte Inglés rating but expects a significant drop in annual turnover

    10 days ago - By Fashion United

    New York - On Tuesday Moody's ratings agency confirmed that it maintains El Corte Inglés' long-term credit rating at Ba1.
    Moody's analysts have also affirmed the Ba1 rating of the department store operator's senior bond issue for 690 million euro. Moody's highlights the "solid performance of its food and online business during the closing of stores caused by the coronavirus" and also bases its decision on the group's deleveraging plan, which started before the beginning of the confinement and which had allowed it to reduce its indebtedness and improve their ratios.
    Moody's appreciates El...
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