Moody’s measures Metro for downgrade

Moody’s Investors Service said it placed on review for downgrade the Ba1 corporate family rating and Ba1-PD probability of default rating of Metro AG. Concurrently, Moody’s placed on review for downgrade the Ba1 senior unsecured rating of Metro and Metro Finance BV. The outlook has been changed to ratings under review from stable for both entities.

The shock to the global economy caused by the coronavirus, falling oi prices and other issues are unprecedented, the agency said.

“This shock will significantly affect Metro’s earnings because it caters to many business customers whose operations have been disrupted by the coronavirus,” said Moody’s in a press release.

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