Woolworths credit rating: “down, down”

Life has been difficult for Woolworths in recent years; its main competitor, Coles, has got its act together and is proving to be a worthy competitor; Aldi is chipping away with plain-packaged groceries; management has been distracted by the Masters hardware debacle. The ratings agencies are also having a crack. Woolworths has an investment-grade credit rating but it is now only two rungs above a sub-investment grade rating. To be...

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