OREANDA-NEWS. S&P Global Ratings today raised its long-term corporate credit rating on France-based consumer electronics retailer Darty PLC to 'BB' from 'BB-'. The outlook is stable.

We subsequently withdrew the long-term rating at Darty's request.

We also withdrew our 'BB-' issue rating on Darty's senior unsecured revolving credit facility due 2019 and senior unsecured notes due 2021, as these debt instruments have been redeemed in the context of the acquisition of the company.

The upgrade follows editorial products and consumer electronics retailer GROUPE FNAC SA's (Fnac's) acquisition of Darty PLC in August 2016.

We have assigned our 'BB' long-term rating to the enlarged Fnac, with a stable outlook (see "France-Based Retailer GROUPE FNAC Assigned 'BB' Rating After Acquiring Competitor Darty; Outlook Stable," published Sept. 19, 2916, on RatingsDirect).

The rating on Darty reflects our view that the acquisition will strengthen its business risk and financial risk profiles. We have consequently aligned our rating on Darty with that on Fnac, given its core status with the enlarged Fnac group.

Darty's request to withdraw the ratings follows the full redemption of all its outstanding debt as a result of the transaction.