Wesfarmers assigned 'Baa1' issuer rating with stable outlook - Moody's |
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Mon, 12 Nov 2007 06:17
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MUMBAI (Thomson Financial) - Moody's Investors Service said it has assigned a 'Baa1' issuer and senior unsecured rating and 'P-2' short-term rating to Australia's diversified energy and industrial group, Wesfarmers Ltd with a stable outlook.The ratings reflect Wesfarmers' entrenched positions in key retail segments and established operations in coal mining, insurance, chemicals and fertilizers and industrial and safety products, Moody's said.Moody's said its ratings also consider the integration risk associated with the company's recent acquisition of the Coles Group Ltd retail operations, particularly the reorganization required in the supermarket division and Kmart segment.Moodys' said the stable outlook reflects an expectation of continued stability in the retail operations, which represent the majority of revenue streams.TFN.newsdesk@thomson.compvi/manCOPYRIGHTCopyright Thomson Financial News Limited 2007. All rights reserved.The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
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Coles issuer ratings raised to 'Baa1' from 'Baa2' with stable outlook - Moody's 