Fitch affirms Casino Guichard-Perrachon

Fitch Ratings said it affirmed Casino Guichard-Perrachon SA's long-term issuer default rating and senior unsecured rating at BBB- and short-term issuer default rating at F3. Fitch also affirmed Casino's €600 million perpetual preferred constant maturity swap securities BB+ rating.

The outlook remains stable.

Casino's ratings reflect continuing significant improvement in the group's financial profile with €1.9 billion of asset disposals already achieved following the company's strategic review announcement in March 2006, Fitch said.

However, the business profile is still constrained by the competitive environment in France, which is particularly affecting its discount stores, the agency said.

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