Raising Uncertainty for Casino Guichard-Perrachon to Very High
Given the uncertainty surrounding Casino, mainly due to its high leverage (both in France and in a group level), exposure to stagnant and highly competitive markets (50% of group sales are generated in France), and suboptimal capital allocation decisions (Casino continues to pay dividends regardless of its mounting debt in France), we raise our uncertainty rating for the time being to very high from high. ...Casino Guichard-Perrachon is a food retailer based in France. Co. operates hypermarkets, supermarkets, discount stores, convenience stores and cafeterias. Co.'s stores are discount stores selling groceries and consumer goods, and providing services like financial and insurance services, real estate, and restaurants. Co. operates hypermarkets under the brand Geant Casino; urban and rural supermarkets under the brand Casino Supermarches; city-centre supermarkets under the brand Monoprix; convenience/national superettes under the brands Petit Casino, Vival and Spar; covenience-paris area stores under the brand Marche Franprix; and discount stores under the brand Leader Price.
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