Fitch rates Wesfarmers BBB+

Fitch Ratings said it assigned Wesfarmers Ltd. a BBB+ long-term issuer default rating, as well as senior unsecured ratings of BBB+.

The outlook is stable.

The ratings are supported by its good revenue diversification, strong brands, leading market positions and exposure to more defensive non-discretionary retail cash flows, Fitch said.

Constraining rating factors include weakened Australian consumer confidence as a result of the impact of six interest rate rises in the past year, as well as a run-off of the 2009 A$20 billion government fiscal stimulus package, the agency said.

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