Fitch alters Golden Eagle view to stable

Fitch Ratings said it revised the outlook on Golden Eagle Retail Group Ltd.’s long-term issuer default rating to stable from negative, and affirmed the long-term IDR at BB. Fitch also affirmed Golden Eagle’s senior unsecured rating at BB.

“The outlook revision reflects our view Golden Eagle is recovering from the effects of the coronavirus pandemic. Golden Eagle’s financial performance during the pandemic and the pace of recovery were better than our expectations due to its flexible cost structure and a high proportion of store ownership,” Fitch said in a press release.

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