NEW YORK — Citing a strong performance in difficult economic conditions, debt-ratings agency Fitch Ratings here on Thursday upgraded its corporate rating on Amsterdam-based Ahold one notch to BBB.
“Ahold’s upgrade reflects the continued resilient operating performance of its retail operations in the US and Netherlands and sound financial flexibility within the current ratings,” Fitch said in a statement. “In the U.S., the group performs satisfactorily in a still challenging economic environment characterized by a difficult consumer environment and intense promotional activities among main rival food retailers.”
Ahold operates the Stop & Shop, Giant-Landover and Giant-Carlisle chains in the U.S. as well as the Peapod internet grocery operation.
