S&P upgrades Delhaize

Standard & Poor’s said it raised the long-term corporate credit ratings on Delhaize Group SA to BBB from BBB- and short-term corporate credit rating to A-2 from A-3.

The agency also said it removed the ratings from CreditWatch with positive implications, where they were placed in June.

The outlook is stable.

S&P also said it raised the ratings on the group’s senior unsecured debt instruments to BBB from BBB-.

The upgrade follows Delhaize’s strong performance year-to-date and forecast of its improved leverage ratios, the agency said.

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