Fitch affirms Pick n Pay

Fitch Ratings said it affirmed Pick n Pay Stores Ltd.'s national ratings at long-term A+(zaf) and short-term F1(zaf). The outlook is stable.

Fitch said the ratings reflect Pick n Pay's leading position in the South African food and general merchandise retail environment.

The company has maintained this position in the market for many years due to its value-for-money offering, wide selection and availability of merchandise and conveniently situated locations, according to Fitch.

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