Following the re-evaluation of BERNABE CI’s ratings, the Bloomfield Investment Corporation Rating Committee decided to maintain a long-term rating of A + (investment grade) with a stable outlook.
In addition, the Committee decided to maintain the A1 rating (investment grade) in the short term with a stable outlook.
The Committee notes that the commercial and operating performances are rather mixed in general, with regard to the strategic decisions made and which have the visible impact of a fall in turnover.
However, it notes the improvement in the level of cash concomitantly with the reduction of the level of indebtedness. The Committee also notes that the company manages to achieve profitability.
The Committee also observes the continuation of steps to improve governance with the strengthening of management bodies. The opening of the store, Mr DIY in 2018, confirms the expectations of the Committee in terms of deployment of the strategy.
However, the Committee notes a lack of visibility on the medium-term development plans in a context of increased competition (after the opening of the store Mr DIY).
