Leading German grocery retailer Metro AG has had its rating and outlook downgraded by ratings agency Moody's.
The agency's investors service downgraded the retailer's rating to Baa3 from Baa2, and knocked down Metro's outlook from 'stable' to 'negative'.
However, the group said that the downgrade would not heavily impact on its refinancing situation, Fox Business reported.
'Metro Group's reputation among banks is excellent and warrants access to the short and long-term capital market at any time,' a spokesman said.
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