Retailer Casino's shares fall on interim dividend cancellation and rating cut

Finatis SA

29/05/2019 08:00

PARIS, May 29 (Reuters) - Casino Group's  CASP.PA  shares
fell on Wednesday, after the indebted French supermarket
retailer cancelled its interim dividend and suffered a new
credit ratings downgrade.
    Casino's shares were down 3.1%, while the shares of Casino's
parent holding company Rallye  GENC.PA  also fell 1%.
    Late on Tuesday, Casino said it would not pay an interim
dividend as it would be focusing instead on cutting its debts,
while S&P also cut its credit ratings on Casino to B from BB-. 
    Last week, a Paris commercial court placed Rallye, the
parent company of Casino, under protection from its creditors
for at least six months.  urn:newsml:reuters.com:*:nL5N2300TA
    
    

 (Reporting by Sudip Kar-Gupta;
Editing by Leigh Thomas)
 ((sudip.kargupta@thomsonreuters.com; +33 1 49 49 53 84;))