La notation de Capelli S.A. (Capelli) est principalement justifiée par la capacité de l’entreprise à réduire la croissance de son endettement, tout en continuant à étendre ses activités.

The BB issuer rating for Capelli S.A. (Capelli) is mainly driven by the company’s ability to mute the growth of its indebtedness while continually expanding operations.

The downgrade of Groupe Capelli SA's Corporate Issuer Credit Rating to BB from BB+ is driven by the stronger-than-expected increase in leverage due to debt-financed growth.

La baisse de notation de Groupe Capelli SA (Capelli) de BB+ a BB est justifiée par une augmentation plus importante que prévue du levier financier, due à une croissance financée par emprunts.

L’affirmation de la note BB+ se justifie par l’exactitude du business plan comparé aux résultats de Capelli pour 2015.

The affirmation of Capelli’s BB+ CICR is supported by the 2015 financial results closely matching its business plan.

The affirmation of the BB+ CICR is supported by the 2014 financial results closely matching Capelli’s business plan.

Scope Ratings confirme la note émetteur (CICR) de Capelli S.A. à BB+ avec une perspective stable.

Berlin, April 17, 2014 – Scope Ratings (Scope) has adjustedthe rating of the French company Groupe Capelli S.A. from BBB to BB+ due to the revision of its rating methodology. The rating outlook is stable.

Berlin, April 17, 2014 – Scope Ratings (Scope) has adjusted the rating of the French company Groupe Capelli S.A. from BBB to BB+ due to the revision of its rating methodology. The rating outlook is stable.