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<\/a><\/p>![\"Morrisons\"](\"https:\/\/www.retailgazette.co.uk\/wp-content\/uploads\/2022\/12\/shutterstock_1950842107-1-2-2.jpg\" "\\"Morrisons'")
<\/div>\n\/\/<\/span> Morrisons loses market share as rating agency Fitch Ratings raises concerns over \u00a36bn debt pile<\/h6>\n\/\/ <\/span>Fitch warned rising costs could result in a \u00a3200 million hit to Morrisons\u2019 profits for the next three years<\/h6>\nMorrisons has lost market share after raising prices faster than rivals as rating agency Fitch Ratings prompts concerns over the grocer\u2019s debts.<\/p>\n
The supermarket chain has faced rising costs, which Fitch warned could result in a \u00a3200 million hit to its profits for the next three years, This is Money<\/em> reported.<\/p>\nFitch downgraded the rating on Morrisons\u2019 \u00a36 billion debt from a \u2018speculative\u2019 BB level, to a \u2018highly speculative\u2019 B, suggesting a \u2018material\u2019 risk of it defaulting.<\/p>\n
Subscribe to Retail Gazette for free<\/strong><\/h5>\nSign up\u00a0here\u00a0to g<\/span>et the latest news straight into your inbox each morning<\/span><\/p>\n\u201cMorrisons lost more market share than its major peers due to larger price increases,\u201d Fitch said.<\/p>\n
It is the latest blow for Morrisons since it fell into the hands of US private equity firm Clayton, Dubilier and Rice last year amid strong competition from two US-based investment groups.<\/p>\n
Morrisons agreed to buy McColl\u2019s in a rescue deal in May after it went into administration following rising costs due to supply chain disruption, inflation and its large debt burden.<\/p>\n
In October, credit rating agency Moody\u2019s warned that\u00a0Morrisons could face a \u00a395 million hit in its borrowing costs.<\/p>\n
Moody\u2019s said the supermarket is set to face an additional \u00a335 million in annual interest payments to \u00a3335 million on its \u00a36.6 billion of borrowing.<\/p>\n<\/p><\/div>\n
Morrisons has lost market share after raising prices faster than rivals as rating agency Fitch Ratings prompts concerns over the grocer\u2019s debts.<\/p>\n
The supermarket chain has faced rising costs, which Fitch warned could result in a \u00a3200 million hit to its profits for the next three years, This is Money<\/em> reported.<\/p>\n Fitch downgraded the rating on Morrisons\u2019 \u00a36 billion debt from a \u2018speculative\u2019 BB level, to a \u2018highly speculative\u2019 B, suggesting a \u2018material\u2019 risk of it defaulting.<\/p>\n Sign up\u00a0here\u00a0to g<\/span>et the latest news straight into your inbox each morning<\/span><\/p>\n \u201cMorrisons lost more market share than its major peers due to larger price increases,\u201d Fitch said.<\/p>\n It is the latest blow for Morrisons since it fell into the hands of US private equity firm Clayton, Dubilier and Rice last year amid strong competition from two US-based investment groups.<\/p>\n Morrisons agreed to buy McColl\u2019s in a rescue deal in May after it went into administration following rising costs due to supply chain disruption, inflation and its large debt burden.<\/p>\n In October, credit rating agency Moody\u2019s warned that\u00a0Morrisons could face a \u00a395 million hit in its borrowing costs.<\/p>\n Moody\u2019s said the supermarket is set to face an additional \u00a335 million in annual interest payments to \u00a3335 million on its \u00a36.6 billion of borrowing.<\/p>\n<\/p><\/div>\nSubscribe to Retail Gazette for free<\/strong><\/h5>\n