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Moody’s shifts Seven & i’s view downward
Moody’s Investors Service said it revised to negative from stable the outlook for Seven & i Holdings Co., Ltd. The agency also affirmed the company’s A1 senior secured debt rating.
“Seven & i Holdings generates strong cash flow from its core domestic convenience stores but faces execution risk in growing outside that business and turning around the profitability of its superstores and department stores,” said Akifumi Fukushi, a Moody’s vice president and senior analyst, in a press release.
The negative ratings outlook reflects the weak prospects for Seven & i Holdings’ superstore and department store segments. Despite years of restructuring to close stores and reduce headcount, the company has not reversed the effects of a decline in their business models, due to stiff competition from other retailers, including online shopping.
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