News: Lotte Shopping Co Ltd (023530.KS)

023530.KS on Korea Stock Exchange

30 Jan 2015
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Thu, Aug 14 2014

Fitch Downgrades Lotte Shopping Co. to 'BBB'; Outlook Stable

(The following statement was released by the rating agency) SEOUL, August 14 (Fitch) Fitch Ratings has downgraded South Korea-based Lotte Shopping Co. Ltd's (Lotte) Long-Term Issuer Default Rating (IDR) and senior unsecured rating to 'BBB' from 'BBB+'. The Outlook is Stable. The downgrade reflects Lotte's weakened financial profile as a result of delayed recovery in its domestic as well as overseas operations, its ongoing aggressive store expansion and unfavourable regulatory measures. The

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