Moody's places Ocado's Ba3 CFR under review for possible downgrade
Rating Action: Moody's places Ocado's Ba3 CFR under review for possible downgrade. Global Credit Research- 03 Dec 2019. London, 03 December 2019-- Moody's Investors Service has today placed under review for possible downgrade the Ba3 long-term corporate family rating and Ba3-PD probability of default rating of UK online grocery retailer and technology-driven software and robotics platform business Ocado Group plc.Ocado Group is an online grocery retailer. Co.'s principal activities are grocery retailing and the development and monetisation of Intellectual Property and technology used for the online retailing, logistics and distribution of grocery and consumer goods. Co. has two reportable segments: Retail, which provides online grocery and general merchandise offerings to customers within the U.K.; and Solutions, which provides end-to-end online retail solutions to corporate customers within and outside of the U.K. OCADO retails brand include ocado, fetch, Sizzle, and FABLED marie Claire. OCADO solutions brand include Groupe Casino, Sobeys, and Morrisons.
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