December 28, 2017 / 10:06 AM / a year ago

BRIEF-Moody's downgrades Steinhoff To CAA1 Corporate Family Rating

Dec 28 (Reuters) - Moody’s:

* MOODY’S DOWNGRADES STEINHOFF TO CAA1 CORPORATE FAMILY RATING, RATING ON REVIEW FOR FURTHER DOWNGRADE

* MOODY’S SAYS DOWNGRADED THE BACKED SENIOR UNSECURED NOTES RATING OF STEINHOFF EUROPE AG TO CAA1 FROM B1

* MOODY’S SAYS ASSIGNED CAA1-PD PROBABILITY OF DEFAULT RATINGS (PDR) TO STEINHOFF AND STEINHOFF INVESTMENT HOLDINGS LIMITED

* MOODY’S SAYS STEINHOFF’S LIQUIDITY LEVELS COULD PROVE INSUFFICIENT TO SUSTAIN EUROPEAN OPERATIONS IN NEAR TERM

* MOODY'S SAYS STEINHOFF'S CFR AND MOODY'S REVIEW OF ITS CFR FOR FURTHER DOWNGRADE REFLECT THE INCREASING PRESSURE ON THE COMPANY'S LIQUIDITY PROFILE Source: bit.ly/2lb1JUJ Further company coverage:

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below