Junk-rated pandemic winners brace for a return to normal

A customer at a service counter inside a Franprix supermarket, operated by Casino Guichard Perrachon SA, in Paris on Nov. 22, 2018. Foto: Bloomberg/Marlene Awaad

European junk-rated companies that gained from people staying home during the pandemic are set for a reckoning as normalcy starts to return.

French supermarket group Casino Guichard Perrachon SA, its Spanish peer Distribuidora Internacional de Alimentacion SA, Dutch-registered maker of plastic garden furniture Keter Group BV, German packaging company Kloeckner Pentaplast and France's shipping giant CMA CGM are among high-yield corporate borrowers that improved their debt profiles during the pandemic...

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