Koninklijke Ahold N.V. http://www.alacrastore.com/company-snapshot/Koninklijke_Ahold_N_V-1000332 Thursday, July 24, 2008 4:00:36 PM 1000332 Koninklijke Ahold N.V. en AlacraStore RSS Builder 1.0 30 http://www.alacrastore.com/storecontent/moodys/PBC_109695moodys/PBC_109695pdf...Koninklijke Ahold NV ( Ahold , or the company ) (Baa# issuer and senior unsecured rating, outlook stable), is a leadi ng food retailer, with total revenues in FY#### of EUR ##.##bn. The company retains leading positions in the Netherlands, where it is the market lea der through its flagship format chain Albert Heijn. The company further holds positions in the Northeast of the US under the Stop & Shop, Giant-Landover and Giant Carlis le banners, in the Czech and Slovak Republics, and in Scandinavia and Portugal via joint venture partners. The company has made significant divestments of non-core operations in recent years, most notably its US Foodservice operat ions in July ####. Following this divestment, about ##% of the company s revenues from continuing operations emanated from the US in FY####, about ##% from its domestic Dutch market, and the remainder from Central Europe (excluding ICA in Scandinavia and Jeronimo Martins in Portugal, which are not consolidated). ... 7/1/2008 4:12:33 PMpdfKoninklijke Ahold N.V.Koninklijke Ahold N.V.600010093300.0000AnalysisAnalysisPBC_109695Credit & Investment ResearchMoody's Global Credit Researchhttp://www.alacrastore.com/storecontent/ccbn/T1862946ccbn/T1862946norm...Ladies and gentlemen, good afternoon to the -- and welcome to the Ahold conference call on the first quarter #### earnings. Please note that this conference is being webcast and recorded. In today's conference call statements will be made that do not refer to historical facts, but refer to expectations based on management's current views and assumptions, and involve known and unknown expectations based on management's current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to defer materially from those included in such statements. Such risks and uncertainties are discussed in the earnings release and the interim financial report, and they are discussed in Ahold's public filings, which are available on Ahold's website. ... 6/6/2008 2:03:00 PMKoninklijke Ahold NV54.0000FinalQ1 2008 Koninklijke Ahold NV Earnings Conference Call TranscriptAHO2:00pm CETTranscriptT1862946Credit & Investment ResearchThomson Street Eventshttp://www.alacrastore.com/storecontent/ccbn/B1862946ccbn/B1862946norm...Albert Heijn again performed well with an increase in operating margin from #.#% in #Q## to a margin of #% in #Q## with operating income up ##%. ... 6/6/2008 9:06:00 AMKoninklijke Ahold NV54.0000EditedQ1 2008 Koninklijke Ahold NV Earnings Conference Call SummaryAHO2:00pm CETBriefB1862946Credit & Investment ResearchThomson Street Eventshttp://www.alacrastore.com/storecontent/spcred/646452spcred/646452normThe latest Full Report from S&Pglobalstructured5/5/2008 8:17:38 AM400Full Report646452NetherlandsFood RetailEurope, Middle East, AfricaUnited StatesGlobal IssuersStructured FinanceCorporationsAsset-Backed SecuritiesCommercial MBSRetailFull ReportLeading positions in food retail on the U.S. east coast and in The Netherlands Focus on key operations and divesting noncore, low-profit activities Increased market share and profitability in The Netherlands Financial measures robust for current ratings Satisfactory liquidity Heightened competition in U.S. retail Mature markets Increased consumer focus on low prices The ratings on Dutch food retailer Koninklijke Ahold N.V. continue to reflect the group's satisfactory business profile, underpinned by the favorable characteristics of the food retail market where the group enjoys leading positions in The Netherlands and on the U.S. East Coast. Ahold's once highly leveraged financial profile has progressively shifted from aggressive to intermediate, but challenging retail market trends in the U.S. continue to constrain the ratings.NLDN0137M00868730101030 301010 3010 30Koninklijke Ahold N.V.129309EUROMIDAFRUSAAHLN@NAFULLGLOBISSSTRUCCORPABSCMBSRetailCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/spcred/646453spcred/646453normThe latest Summary from S&Pglobalstructured5/5/2008 8:17:38 AM175Summary646453NetherlandsFood RetailEurope, Middle East, AfricaUnited StatesGlobal IssuersStructured FinanceCorporationsAsset-Backed SecuritiesCommercial MBSRetailSummaryThe ratings on Dutch food retailer Koninklijke Ahold N.V. continue to reflect the group's satisfactory business profile, underpinned by the favorable characteristics of the food retail market where the group enjoys leading positions in The Netherlands and on the U.S. East Coast. Ahold's once highly leveraged financial profile has progressively shifted from aggressive to intermediate, but challenging retail market trends in the U.S. continue to constrain the ratings. Ahold delivered a strongly improved 2007 trading performance in The Netherlands, where the group's Albert Heijn banner gained market share and upped EBIT by 39.4%. Amid the tough market conditions in the U.S., results were much more uneven. Overall, though, the group's reported EBIT margin increased to 4.0% from 3.8%. Cash generationNLDN0137M00868730101030 301010 3010 30Koninklijke Ahold N.V.129309EUROMIDAFRUSAAHLN@NASUMMARYGLOBISSSTRUCCORPABSCMBSRetailCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/spcred/635694spcred/635694normThe latest Summary from S&P3/14/2008 3:52:34 PMSummary175globalstructured635694NetherlandsFood RetailEurope, Middle East, AfricaUnited StatesGlobal IssuersStructured FinanceCorporationsAsset-Backed SecuritiesCommercial MBSRetailSummaryThe ratings on Dutch food retailer Koninklijke Ahold N.V. continue to reflect the group's satisfactory business profile, underpinned by the favorable characteristics of the food retail market where the group enjoys leading positions in The Netherlands and on the U.S. East Coast. Ahold's once highly leveraged financial profile has progressively shifted from aggressive to intermediate, but challenging retail market trends in the U.S. continue to constrain the ratings. Ahold delivered a strongly improved 2007 trading performance in The Netherlands, where the group's Albert Heijn banner gained market share and upped EBIT by 39.4%. Amid the tough market conditions in the U.S., results were much more uneven. Overall, the group's reported EBIT margin still increased to 4.0% from 3.8%. Cash generationNLDN0137M00868730101030 301010 3010 30Koninklijke Ahold N.V.129309EUROMIDAFRUSAAHLN@NASUMMARYGLOBISSSTRUCCORPABSCMBSRetailCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/ccbn/B1782063ccbn/B1782063norm...Polish business, US Food Service, Tops and stake in JMR have been classified as discontinued operations. ... 3/6/2008 4:08:00 PMKoninklijke Ahold NV54.0000EditedQ4 2007 Koninklijke Ahold NV Earnings Conference Call SummaryAHO1:00pm CETBriefB1782063Credit & Investment ResearchThomson Street Eventshttp://www.alacrastore.com/storecontent/ccbn/T1782063ccbn/T1782063norm... - Koninklijke Ahold NV - Vice President IR A few more people to come in, nonetheless I feel we should kick off. Good afternoon and good morning to those of you listening in from the U.S. Welcome to the analyst meeting on our fourth quarter and full year '## earnings. We will, as usual, start with a presentation where Kimberly, our CFO, will start on the annual -- sorry, on the reported numbers. Dick, COO Europe, will talk in particular about Albert Heijn, who is also hosting this event. Larry, responsible for U.S. Retail, will give you an update along the way to perhaps on the value improvement program. And John, CEO, will conclude on '##, and ... 3/6/2008 4:08:00 PMKoninklijke Ahold NV54.0000FinalQ4 2007 Koninklijke Ahold NV Earnings Conference Call TranscriptAHO1:00pm CETTranscriptT1782063Credit & Investment ResearchThomson Street Eventshttp://www.alacrastore.com/storecontent/fitch/374586_report_framefitch/374586_report_framepdfFitch Ratings is a leading global rating agency committed to providing the world's credit markets with independent, timely and prospective credit opinions. Built on a foundation of organic growth and strategic acquisitions, Fitch Ratings has grown rapidly during the past decade gaining market presence throughout the world and across all fixed income markets.Carrefour S.A.Casino Guichard-Perrachon S.A.J. Sainsbury plcKoninklijke Ahold N.V.METRO AGTesco plc803599648035996980360208803602098036083480362463804171792/29/2008 10:20:00 AM010300000103030001030301275Special Report01255812017AHMEOSBRYTSCO374586_report_frameCredit & Investment ResearchFitchResearchhttp://www.alacrastore.com/storecontent/moodys/COP_600010093moodys/COP_600010093htmlGlobal Credit Research Credit Opinion # JUL #### Credit Opinion: Koninklijke Ahold N.V. Koninklijke Ahold N.V. Amsterdam, Netherlands Ratings Category Moody's Rating Outlook Stable Issuer Rating Baa# Senior Unsecured -Dom Curr Baa#...1/3/2008 8:05:00 PMhtmlKoninklijke Ahold N.V.Koninklijke Ahold N.V.600010093150.0000NewsCredit OpinionCOP_600010093Credit & Investment ResearchMoody's Global Credit Researchhttp://www.alacrastore.com/storecontent/ccbn/T1685853ccbn/T1685853norm12/31/2007 5:21:14 PMKoninklijke Ahold NV54.0000FinalQ3 2007 Koninklijke Ahold NV Earnings Conference Call TranscriptAHO2:00pm CET...Good morning and good afternoon, ladies and gentlemen and welcome the Ahold third quarter results conference call. Please note that this conference call is being webcast and recorded. Today's conference call contains statements that are neither reported financial results nor other historical information. These statements are forward-looking statements within the meaning of the US Federal Security Laws. The statements on risks, uncertainties and factors relating to them are discussed in more detail in the earnings release which was issued earlier today by the company, and is available on its website. The introduction will be followed by a question and answer session and any views expressed by those asking questions are not necessarily the views of the company. At this time I would like to turn the call over to your host today, Mr. Henk Jan ten Brinke, Vice President of Investor Relations. Please go ahead, sir. ... TranscriptT1685853Credit & Investment ResearchThomson Street Eventshttp://www.alacrastore.com/storecontent/ccbn/B1685853ccbn/B1685853norm12/31/2007 5:20:58 PMKoninklijke Ahold NV54.0000EditedQ3 2007 Koninklijke Ahold NV Earnings Conference Call SummaryAHO2:00pm CET...AHO reported that it completed the return of EUR#b to its shareholders by way of the EUR#b capital repayment in Aug. and the EUR#b share buyback program finalized on ##/##/##. ... BriefB1685853Credit & Investment ResearchThomson Street Eventshttp://www.alacrastore.com/storecontent/moodys/PR_61537_600053448moodys/PR_61537_600053448htmlRating Action12/21/2007 4:57:35 AMGlobal Credit Research Rating Action ## NOV #### Rating Action: Ahold Finance Europe B.V. MOODY'S REVIEWS AHOLD'S Baa# RATINGS FOR POSSIBLE DOWNGRADE London, ## November #### -- Moody's Investors Service today placed the Baa# senior...Ahold Finance Europe B.V.600053448150.00Newshtml600053447Ahold Finance B.V.600047648Ahold USA Holdings Inc.600039558Albert Heijn600021514Ahold Finance U.S.A. Inc.600010093Koninklijke Ahold N.V.Ahold Finance B.V.; Ahold Finance Europe B.V.; Ahold Finance U.S.A. Inc.; ...PR_61537_600053448Credit & Investment ResearchMoody's Global Credit Researchhttp://www.alacrastore.com/storecontent/fitch/361686_report_framefitch/361686_report_framepdf010303012508036105601030101Accor S.A.12017METRO AG80360209MEOJ. Sainsbury plcCasino Guichard-Perrachon S.A.01255880359969Carrefour S.A.SBRY12040Special Report803613000103000001210180359964AH0100000001032100L'Oreal SA8036083412/13/2007 2:14:00 PM01203280359949CPGLVMH Moet Hennessy-Louis Vuitton SATSCOCompass Group plc80360208809552378036059401212201030300804171790103010001030200Tesco plc80362463Sodexho Alliance S.A.Koninklijke Ahold N.V.361686_report_frameCredit & Investment ResearchFitchResearchhttp://www.alacrastore.com/storecontent/fitch/358722_report_framefitch/358722_report_framepdf803610561204080361300Carrefour S.A.80360209010303018036083401032100012558Fitch Ratings is a leading global rating agency committed to providing the world's credit markets with independent, timely and prospective credit opinions. Built on a foundation of organic growth and strategic acquisitions, Fitch Ratings has grown rapidly during the past decade gaining market presence throughout the world and across all fixed income markets.Special ReportCasino Guichard-Perrachon S.A.012101J. Sainsbury plc80359964Sodexho Alliance S.A.80362463METRO AG010302000103010080955237L'Oreal SASBRY8036059401000000012032AH12017Accor S.A.12/5/2007 10:12:00 AM012122MEO010303000103010125080360208Koninklijke Ahold N.V.Compass Group plcLVMH Moet Hennessy-Louis Vuitton SA01030000CPG8041717980359949358722_report_frameCredit & Investment ResearchFitchResearchhttp://www.alacrastore.com/storecontent/fitch/347998_report_framefitch/347998_report_framepdfKoninklijke Ahold N.V.8036083410/19/2007 10:14:00 AM010300000103030001030301150Credit UpdateAHFitch Ratings is a leading global rating agency committed to providing the world's credit markets with independent, timely and prospective credit opinions. Built on a foundation of organic growth and strategic acquisitions, Fitch Ratings has grown rapidly during the past decade gaining market presence throughout the world and across all fixed income markets.347998_report_frameCredit & Investment ResearchFitchResearchhttp://www.alacrastore.com/storecontent/moodys/PR_142362_91200moodys/PR_142362_91200htmlAnnouncement10/19/2007 12:24:30 AMGlobal Credit Research Announcement ## OCT #### Announcement: Carrefour S.A. Moody's reports: European retailers may be challenged by difficult trading environment London, ## October #### -- The rating outlook for most European retailers...Carrefour S.A.91200150.0000Newshtml808801559X5 Retail Group N.V.808142080Focus DIY Holdings Limited807837375A.T.U. Auto-Teile-Unger Invtmt GmbH & Co. KG61735Safeway Limited600061813Delhaize Group600053155Agrokor D.D.600048599Hornbach Baumarkt AG600010093Koninklijke Ahold N.V.600008224Metro AG594300Kingfisher plc496700Wm Morrison Supermarkets plc463500Marks & Spencer p.l.c.3081DSG International plc2990NEXT plc2714Tesco Plc2401J Sainsbury plc108290Alliance Boots plcA.T.U. Auto-Teile-Unger Invtmt GmbH & Co. KG; Agrokor D.D.; Alliance Boots plc; Carrefour S.A.; ...PR_142362_91200Credit & Investment ResearchMoody's Global Credit Researchhttp://www.alacrastore.com/storecontent/moodys/PBC_105197moodys/PBC_105197pdfAnalysis10/16/2007 4:16:18 PM...Koninklijke Ahold NV ( Ahold , or the company ) (Baa# issuer and senior unsecured rating, outlook stable), is one of the world s largest food retailers, with total revenues in FY#### of EUR ##.#bn. The company retains leading positions in the Netherlands, where it is the market leader through its flagship format chain Albert Heijn, and through the majority-owned Schuitema, the more price-focused format. It further holds leading positions in the Northeast of the US under the Stop & Shop, Giant-Landover and Giant Carlisle banners, in the Czech Republic and in Scandinavia via a joint venture partner. T he company has recently divested its US Foodservice operations in order to refocus on its core food retail operations, which had revenues of just under EUR ##bn in FY ####. On a pro forma basis for this divestment, about ##% of the company s co re retail revenues emanated from the US in FY####, about ##% in its domestic Dutch market, and the remaining #% in Central Europe (excluding... Koninklijke Ahold N.V.600010093300.0000AnalysispdfKoninklijke Ahold N.V.PBC_105197Credit & Investment ResearchMoody's Global Credit Researchhttp://www.alacrastore.com/storecontent/spcred/599881spcred/599881normThe latest Summary from S&P9/6/2007 8:28:00 AMSummary175globalstructured599881NetherlandsFood RetailEurope, Middle East, AfricaUnited StatesGlobal IssuersStructured FinanceCorporationsAsset-Backed SecuritiesCommercial MBSRetailSummaryThe ratings on Netherland-based food retailer Koninklijke Ahold N.V. continue to reflect the group's satisfactory business profile, underpinned by the favorable characteristics of the food retail market in which the group enjoys leading positions in The Netherlands and on the U.S. East Coast. Ahold's once highly leveraged financial profile has progressively shifted from aggressive to intermediate, but ratings remain constrained by the challenging retail market trends prevailing in the U.S. 2006 free cash flows approached a fairly robust €1 billion, reflecting a strongly improved performance in The Netherlands where the group's Albert Heijn banner gained market share and improved EBIT by 42.7%. This enabled Ahold to reduce reported net debt by more than €800 million, and grow the ratio ofNLDN0137M00868730101030 301010 3010 30Koninklijke Ahold N.V.129309EUROMIDAFRUSAAHLN@NASUMMARYGLOBISSSTRUCCORPABSCMBSRetailCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/ccbn/T1623439ccbn/T1623439norm8/30/2007 4:05:00 PMKoninklijke Ahold NV54.0000FinalQ2 2007 Koninklijke Ahold NV Earnings Conference Call TranscriptAHO2:00pm CET...Good afternoon, ladies and gentlemen, and welcome to the Ahold second quarter results conference call. Please note, this conference call is being recorded and shown live on a webcast. Today's conference call contains statements that are neither reported financial results, nor are they historical information. These statements are forward-looking statements within the meaning of the U.S. federal security laws. The statements on risk, uncertainties and factors relating to them are discussed in more detail in the earnings release, which was issued earlier today by the Company, and is available on its website. The introduction will be followed by a question and answer session, and any views expressed by those asking questions are not necessarily the views of the Company. At this time, for opening remarks, I would like to turn the call over to your host, Mr. Henk-Jan ten Brinke. Please go ahead. ... TranscriptT1623439Credit & Investment ResearchThomson Street Events