Asda debt downgraded by top ratings agency

Asda’s debt has been downgraded as its profits are forecast to slump more than anticipated.
Ratings agency Fitch confirmed yesterday (24 November) it has reduced its rating of the supermarket’s holding company Bellis Finco from “B+” to “B,” as it raised concerns over its future prospects, The Telegraph reported.
Fitch cautioned that profits would decline by more than previously anticipated this year, as the grocery giant invested more money into price cuts and