Sainsbury’s debt has been downgraded to within one notch of ‘junk’ status by Moody’s the ratings agency.
The rating on £1.9bn of Sainsbury debt has been reduced by Moody’s from Baa2 to Baa3, and the agency stated that even this was a weak position within this category.
A report in The Times today stated that a further downgrade would put Sainsbury in the ‘junk’ or non-investment grade, a credit-worthiness level that some institutional investors spurn.
The rating on £1.9bn of Sainsbury debt has been reduced by Moody’s from Baa2 to Baa3, and the agency stated that even this was a weak position within this category.
A report in The Times today stated that a further downgrade would put Sainsbury in the ‘junk’ or non-investment grade, a credit-worthiness level that some institutional investors spurn.
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