...- Value Retailer Action has closed some of its stores in certain regions, and restricted its product range in others as a result of government-imposed restrictions following the outbreak of COIVD-19, leading us to revise downward our earnings and cash generation projections for 2020. - A sound liquidity buffer, no upcoming debt maturities, adequate covenant headroom, and cash preservation measures should enable the group to withstand disruption to its operations over the next few months. - We are revising our outlook on Action's parent Peer Holding III B.V. to negative from stable, and affirming our 'B+' ratings on the company. - The negative outlook reflects our view that the effects of the COVID-19 pandemic on the group' cash generation, credit metrics, and liquidity could be more pronounced than we currently anticipate, given the uncertainty surrounding the duration and economic impact of the outbreak....
