Moody's Ratings affirms NEXT Group's Baa2 ratings; outlook changed to positive
Moody's Ratings, (Moody's) has today affirmed the Baa2 long-term issuer rating of NEXT Group plc (NEXT or the company). The rating agency has also affirmed the company's backed senior unsecured and senior unsecured ratings at Baa2. The outlook was changed to positive from stable. The rating action...Next Group is a retailer engaged in providing clothing, footwear, accessories and home products. Co. is primarily comprised of the following segments: NEXT Retail, which sells clothing, footwear, accessories and/or home products; NEXT Directory, an online and catalogue shopping business; NEXT International Retail, with around 200 mainly franchised stores across the world at Jan 28 2017; NEXT Sourcing, which designs and sources NEXT branded products; and Lipsy, which designs and sells Lipsy and other branded fashion products. As of Jan 28 2017, Co.'s NEXT Retail segment had a chain of around 540 stores in the U.K. and Eire.
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