Moody's Investors Service on Friday said it had upgraded its credit ratings for Ahold, reflecting the retailer’s efforts to reduce debt and improve operating results.
The agency said the upgrade, to Baa2 from Baa3, did not take into account Ahold’s pending merger with Delhaize but said it viewed the combination as beneficial for both companies. “The combination of the two businesses would be a logical step towards becoming a financially stronger player in a consolidating industry, where economies of scale and purchasing power are key success drivers,” Moody’s said.
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