by Amruth Sundarkumar | May 10, 2023 | Credit Ratings, High Yield Bonds
Casino Guichard was downgraded to CCC- from CCC+ by S&P due to rising risks regarding its restructuring and weak liquidity. With revenues from its French operations falling, a negative EBITDA after leases (from French operations) of €53mn and a cash burn of...
by Amruth Sundarkumar | Mar 24, 2023 | Credit Ratings, Distressed / Defaulted Bonds
Casino Guichard’s bonds were down by over 4 points across the curve after its downgrade to Caa1 from B3 by Moody’s. The downgrade came on the back of continued market share losses, a reduction in French retail margins in 2022 and weak liquidity....
by Amruth Sundarkumar | Mar 1, 2023 | High Yield Bonds
Bonds of French retailer Casino Guichard fell by over 5% across the curve after its retail sales grew by only 0.1% in the fourth quarter of 2022. Casino said that a “more difficult competitive environment late in the year” was to blame and that it kept...
by Amruth Sundarkumar | Feb 2, 2023 | Corporates, High Yield Bonds
French retailer Casino Guichard and Teract SA, a European leader in sustainable, alternative and responsible distribution are in talks to merge their French retail operations. Talks are in exploratory stages and no conclusion has been made, Casino Guichard noted....
by Amruth Sundarkumar | Sep 22, 2022 | Corporates, High Yield Bonds
French retailer Casino Guichard’s dollar bonds fell by over 1 point after the company said it raised €350mn ($347mn) via a bridge loan from US hedge fund Farallon Capital, as analysts noted that it may have risked breaching its Q3 debt covenants without it. This...
