Japan Credit Rating Agency has upgraded Pan Pacific International's (TYO:7532) long-term issuer rating to AA- from A+, with the outlook revised to stable from positive.
The rating action, announced on Feb. 24, also applies to the discount store operator's bonds, which were raised to AA- from A+, and its shelf registration, now rated at preliminary AA- from preliminary A+.
The upgrade reflects the agency's latest assessment of the company since its last rating action on April 7, 2025.
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