Walmart Inc.: Rating Report
On April 21, 2021, DBRS Limited (DBRS Morningstar) confirmed Walmart Inc.'s (Walmart or the Company) Issuer Rating and Senior Unsecured Debt rating at AA. All trends remain Stable. While DBRS Morningstar acknowledges Walmart's stronger-than-expected operating results for the fiscal year ended January 31, 2021, because of unprecedented demand surge stemming from the Coronavirus Disease (COVID-19) pandemic, the rating confirmations and Stable trends reflect DBRS Morningstar's view that the Company's operating results should moderate as the global rollout of coronavirus vaccines gains traction and the economy reopens.Walmart is engaged in global operations of retail, wholesale and other units, as well as eCommerce, located throughout the U.S., Africa, Argentina, Canada, Central America, Chile, China, India, Japan, Mexico and the U.K. The company's operations are conducted in three reportable segments: Walmart U.S., which is a mass merchandiser of consumer products, operating under the Walmart and Walmart Neighborhood Market brands, as well as walmart.com, jet.com and other eCommerce brands; Walmart International, which includes various formats divided into retail, wholesale and other categories; and Sam's Club, which is a membership-only warehouse club that also operates samsclub.com.
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