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IN BRIEF: Moody's affirms Ocado's B3 rating and stable outlook

18th Oct 2023 17:12

Ocado Group PLC - Hatfield, England-based online grocer and warehouse technology firm - Moody's Investors Service affirms the company's B3 corporate family rating and its B2-PD probability of default rating. Outlook remains stable.

"Ocado's B3 rating reflects our expectation that its financial leverage and rate of cash consumption will remain very elevated over the next 12-18 months as a result of high operating leverage and investment in capacity," Moody's explains.

Current stock price: 520.00 pence

12-month change: up 8.8%

By Heather Rydings, Alliance News senior economics reporter

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