Fitch affirms Lotte

Fitch Ratings said it affirmed Lotte Shopping's long-term foreign-currency issuer default rating at A-, following its acquisition of GS Retail's discount store and department divisions.

The outlook remains stable.

The agency said the deal will strengthen Lotte's market position in South Korea, though it will likely weaken its financial profile, leaving it with little headroom at the current rating level.

The credit metrics of Lotte will weaken following this transaction, Fitch said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.