Staff Writer
Pepkor Holdings has received a boost from Moody’s Investors Service after the agency completed its latest review of the retail group.
The review resulted in no changes to Pepkor’s credit ratings, confirming the company’s solid financial position in a difficult economic climate.
Moody’s kept Pepkor’s Corporate Family Rating at Ba2 and its National Scale Long-Term Rating at Aa1.za.
Both ratings carry a stable outlook. The agency said the ratings reflect Pepkor’s strong position in South Africa’s retail sector, supported by conservative financial management, good liquidity, and strong credit metrics.
Moody’s noted that the group continues to deliver growth above inflation at a time when consumers remain under financial strain and trading conditions are uncertain.
Pepkor’s stable credit profile is important for its N$10 billion Domestic Medium-Term Note Programme, launched in 2020 to diversify funding and lower borrowing costs.
The group has issued several notes under the programme at competitive rates, showing continued investor confidence in its business model.
The company said this financial stability supports its long-term strategy to strengthen its leadership in the South African retail market.
Pepkor owns several retail brands that operate in Namibia, including PEP, Ackermans, Shoe City, Dunns, Tekkie Town, Refinery, Bradlows, Sleepmasters, Incredible Connection, HiFi Corp and BUCO.
Caption
Pepkor owns several Namibian retail brands, including PEP, Ackermans, Shoe City, Dunns, Tekkie Town, Refinery, Bradlows, Sleepmasters, Incredible Connection, HiFi Corp and BUCO.
Photo: Contributed.
