FnacFR announces that Standard & Poor’s (S&P) has upgraded the Group’s long-term credit rating to BB+ with a stable outlook.
This upgrade is a sign of full recognition of the Group’s financial strength and the robustness of its business model in a context marked by two years of health crisis.
FnacFR is rated BBB-, BB+ and Ba2 by Scope Ratings, Standard & Poor’s and Moody’s respectively, all three with a stable outlook.
The upgrade of FnacFR’s credit rating reflects S&P’s confidence in the relevance of the Group’s omnichannel model, its operating performance and its financial discipline, which have significantly improved its risk profile. We are confident that the continued deployment of our strategic plan Everyday, through advice, sustainability and services, will enable the Group to further strengthen its operational and financial profile over time.
Jean-Brieuc Le Tinier, Chief Financial Officer of FnacFR