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Moody's assigns 1st-time rating to France's Casino Guichard-Perrachon

Moody's assigned a first-time rating of Ba1 to Casino Guichard-Perrachon SA and its bond obligations, with a stable outlook, according to a Nov. 30 announcement from Casino.

The rating reflects Casino's multi-format retail strategy, leading position in Latin America and achievements in e-commerce, the French retailer said.

Casino said it cancelled Nov. 30 its agreement with rating agency Fitch Ratings and requested that Fitch's credit ratings be withdrawn.

It remains rated by S&P Global Ratings, which confirmed its rating at BB+ with a stable outlook April 24.

S&P Global Ratings and S&P Global Market Intelligence are owned by S&P Global Inc.