S&P acts on five European retailers

S&P said it took action on five European specialty retailers, citing the effects of the uncertain extent and duration of the coronavirus pandemic in Europe.

S&P downgraded B&M European Value Retail SA by one notch to B+, and placed the ratings on CreditWatch with negative implications.

The agency downgraded Kirk Beauty One Gmbh and Maxeda to CCC+ from B- and assigned negative outlooks.

“ We placed our BB+ long-term issuer credit ratings on El Corte Ingles SA and our BBB- issue rating on its senior unsecured notes on CreditWatch with negative implications,” S&P said in a press release.

Finally, S&P affirmed its B+ long-term issuer credit rating on Peer Holding III BV and assigned a negative outlook.

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