Moody's affirms Steinhoff

Moody's Investors Service said it affirmed the Ba1 corporate family rating of Steinhoff International Holdings Ltd.

"Today's announcement reflects our current view of Steinhoff's revised organizational structure, as well as Moody's expectation that the group's debt/EBITDA ratio will improve toward 3.5x following its completion of various corporate transactions," says Dion Bate, Moody's lead analyst for Steinhoff, in a news release.

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