DIA Loses Moody's Investment-Grade Rating on Earnings Fall
- Spanish retailer suffers two-notch downgrade on profit warning
- Shares have lost more than half their value this week
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Spanish supermarket operator Distribuidora Internacional de Alimentacion SA’s credit rating was slashed two notches to Ba2 by Moody’s following a profit warning this week and could yet fall lower, as the ratings firm put it on review for further downgrade.
DIA has the lowest investment-grade rating from S&P, which is on negative outlook.