S&P rates Coles Group BBB+

S&P said it assigned its BBB+ long-term issuer credit rating to Coles Group Ltd.

The outlook is stable.

At the same time, the agency affirmed the A- long-term issuer credit rating on Wesfarmers Ltd.

S&P also affirmed the A- rating on the company's senior unsecured debt.

“The BBB+ rating on Coles reflects the company's well-entrenched market position in the Australian supermarket industry, extensive scale, network that is hard to replicate, as well as the high level of revenue generation from its core food and liquor businesses,” the agency said in a news release.

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