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Coles Group's 'Baa1' issuer rating, 'P-2' short-term rating withdrawn - Moody's


Published : Fri, 30 Nov 2007 06:43
By : Agencies
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MUMBAI (Thomson Financial) - Moody's Investors Service said it has withdrawn the 'Baa1' issuer rating assigned to Australia's second-largest retailer Coles Group Ltd and the 'P-2' short-term rating assigned to the wholly-owned finance entity, Coles Group Finance Ltd.

The 'Baa1' senior unsecured rating assigned to the 400 mln aud of medium-term notes is unaffected by this rating action and is affirmed, the ratings agency said.

Australian conglomerate Wesfarmers Ltd acquired Coles Group this month through a 20 bln aud share and cash deal.

TFN.newsdesk@thomson.com

npr/man

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