Next PLC - London-headquartered clothing & home products retailer - Moody's Investors Service confirms Baa2 long-term issuer rating and backed senior unsecured rating of Next. The outlook has been changed to stable from ratings under review. Predicts Next will, like all clothing retailers with physical stores, suffer a material drop in revenues and profits in its current year to January 2021. Stable outlook reflects Moody's expectations that the company's liquidity will remain good and that a gradual recovery in revenues over the course of the next 12 to 18 months will result in Next's credit metrics returning towards pre-crisis levels.
Current stock price: 5,190.00 pence
Year-to-date change: down 25%
By Tapan Panchal; tapanpanchal@alliancenews.com
Copyright 2020 Alliance News Limited. All Rights Reserved.
Next (NXT)