Carrefour raises interest on benchmark bond in face of possible credit rating downgrade; retailer has lowered its profit forecast twice in last three months

Yohana Valdez

Yohana Valdez

Oct 17, 2011 – Industry Intelligence

Los Angeles , October 15, 2011 () – A possible negative credit rating from Moody’s Investors Service has forced Carrefour SA to raise interest to 285 basis points higher than the swap rate on its 500 million-euro (U.S.$690 million) benchmark bond, Bloomberg reported Oct. 14.

The No. 2 retailer’s credit rating is being considered for a potential downgrade following a drop in Carrefour’s profit forecast for the second time in three months.

Carrefour is said to be considering how to refinance future debt redemptions, said an external company spokesperson.

The company’s unsecured bonds due April 2021 took their biggest plunge to date when they dropped up to 5% this week. In the last three weeks, the bonds have slipped in value by 9%, per Bloomberg Bond Trader prices.

The primary source of this article is Bloomberg, New York, New York, on Oct. 14, 2011.

* All content is copyrighted by Industry Intelligence, or the original respective author or source. You may not recirculate, redistrubte or publish the analysis and presentation included in the service without Industry Intelligence's prior written consent. Please review our terms of use.


About Us

We deliver market news & information relevant to your business.

We monitor all your market drivers.

We aggregate, curate, filter and map your specific needs.

We deliver the right information to the right person at the right time.

Our Contacts

1990 S Bundy Dr. Suite #380,
Los Angeles, CA 90025 795

+1 (310) 558 0008
+1 (310) 558 0080 (FAX)

About Cookies On This Site

We collect data, including through use of cookies and similar technology ("cookies") that enchance the online experience. By clicking "I agree", you agree to our cookies, agree to bound by our Terms of Use, and acknowledge our Privacy Policy. For more information on our data practices and how to exercise your privacy rights, please see our Privacy Policy.