Fnac Darty : Heading towards an upgrade next year
Following the release of H1 2018 results, we maintain our Positive credit opinion on the issuer. Despite a less speculative appeal in the short term (Carrefour, Ceconomy), the company's stand-alone performances in terms of operating margin growth and cash generation should enable it regain a net cash position at the end of 2018 and probably benefit from a rating upgrade in early 2019. - - >The 3.25% 2023 FNACFP senior notes’ price remained unchanged after the release of int...Fnac Darty is engaged in the leisure and entertainment, technology, and household appliances retail market in France and a player on markets in other countries where it operates such as Spain, Portugal, Belgium, the Netherlands and Switzerland. Fnac Darty also has franchise operations in Morocco, Qatar and Ivory Coast.
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.
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