Carrefour: S&P retains its rating

(Boursier.com) — S&P confirms the long-term issuer rating of Crossroads to ‘BBB’, associated with a ‘stable’ outlook. The agency expects the group to maintain its strong position in its main markets while maintaining EBITDA margins of at least 5% and debt ratios in line with its rating. Carrefour’s cost control initiatives have resulted in a constant recovery of the EBITDA margin above 5% and an improvement in free cash flow which allow the group to have a comfortable margin at the level of its rating, says S&P.