Canadian Tire Sees S&P Global Maintain Ratings
Although CTC’s leverage increased to 3.7x in the fourth quarter, the ratings agency affirmed its BBB issuer credit rating for the retailer, with a stable outlook. The 25% year-over-year drop in the company’s EBITDA, along with its repurchase of Canadian Tire Financial Services last quarter, increased its leverage, but S&P expects the elevated levels to be temporary and be reduced throughout the year. Although the top line is not expected to ... Log in to view full article.
