Report
Anne-Barbara Nicco

Casino : "Place your bets" has never been a more apt term

Since the release of full-year results, Casino's bonds have been on a seemingly unending downward spiral, with senior unsecured bonds from the 2025 maturity onwards setting new records at ~30%. The March 2024 unsecured bond trades around 20 pts higher, reflecting a slightly higher redemption probability than its counterparts. Lastly, Quatrim 01/2024, secured by shares in the property subsidiary, trades at 91% mid, also reflecting concerns about a default. In this report, we prese...
Underlying
Casino Guichard-Perrachon SA

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.

Provider
Oddo BHF
Oddo BHF

​Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.

Analysts
Anne-Barbara Nicco

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