Woolworths' fresh downgrade
Following a disappointing third quarter trading update from Woolworths (ASX: WOW) on Wednesday, Standard & Poor’s downgraded the company’s credit rating due to weak earnings and intense competition in the market. The ratings agency lowered Woolworths’ long-term debt rating from BBB+ to BBB, although its outlook was lifted from ‘negative’ to ‘stable’ as a consequence; leaving the group just two levels above a junk rating. Shares in Woolworths soured following the announcement, and closed down 4.1% for the week. We do not own Woolworths in the investment portfolio.
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Wilson Asset Management has a track record of making a difference for shareholders and the community for 27 years and is the investment manager for nine LICs and two unlisted funds. Wilson Asset Management invests over $6 billion on behalf of more than 130,000 retail investors. Wilson Asset Management created and is the lead supporter of the Future Generation companies, the first LICs to deliver both investment and social returns.
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Wilson Asset Management
Wilson Asset Management has a track record of making a difference for shareholders and the community for 27 years and is the investment manager for nine LICs and two unlisted funds. Wilson Asset Management invests over $6 billion on behalf of more...
Wilson Asset Management
Wilson Asset Management has a track record of making a difference for shareholders and the community for 27 years and is the investment manager for nine LICs and two unlisted funds. Wilson Asset Management invests over $6 billion on behalf of more...
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