Lotte Shopping Co., Ltd.: Sale of hypermarket stores in China is credit positive
The sale of Lotte Shopping's hypermarket stores in China will improve its financial profile, and appropriately position the company at its current rating level.Lotte Shopping is engaged in retail operations through department stores, discount stores and supermarkets. In addition to the retail operations, Co.'s businesses include, among other things, a chain of multiplex movie theaters operating under the brand name Lotte Cinema, and a food manufacturing division. As of Dec. 31, 2010, Co. maintains 23 department stores, 90 discount stores, 277 supermarkets, and 32 movie theaters.
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