U.S. Markets closed

CECONOMY AG -- Moody's revises Ceconomy's rating outlook to negative, Baa3 affirmed

Moody's Investors Service ('Moody's') has today revised the outlook on the ratings of Ceconomy AG ('Ceconomy' or 'the company') to negative from stable and affirmed the company's Baa3 long term issuer rating and P-3 short term issuer and commercial paper ratings. "The negative outlook reflects uncertainty about the level of future profitability in the wake of Ceconomy's recent profit warnings and subsequently announced management changes," said David Beadle, a Moody's Vice President -- Senior Credit Officer and lead analyst for Ceconomy.