SA retailer keeps rating

A South Africa-based consumer goods retailer’s national long-term rating has been kept at A(za), with a stable outlook by GCR Ratings.

The rating agency has affirmed Lewis on its strong financial profile.

Meanwhile, GCR has also kept Lewis’s outlook at stable, on the expectation that the company will continue to report a strong financial profile.

This is despite the negative impact of coronavirus disease 2019 (COVID-19) on its earnings progression.

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