Moody’s changes Kingfisher view to stable

Moody’s Investors Service said it changed Kingfisher plc’s outlook to stable from negative.

“In contrast to our initial concerns just over a year ago that Kingfisher's credit quality could have been negatively impacted by the coronavirus, the company performed strongly in 2020. It successfully met increased demand for DIY products driven by changes to consumers' lifestyles brought about by the pandemic, and its higher profitability has led to stronger credit metrics than seen before it," said David Beadle, a Moody's Vice president, senior credit officer and lead analyst for Kingfisher, in a press release.

"We expect the company to sustain solid financial performance over at least the next 18 months, so a stable rating outlook is now appropriate," he added.

Concurrently, Moody’s affirmed Kingfisher’s (P) Baa2 ratings.

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