The agency upgraded the company’s international credit rating from BB+ to BBB-, with a stable outlook, highlighting the sustained improvement in its financial and operating metrics.
As a result, both agencies rating Grupo Falabella —Fitch Ratings and S&P Global Ratings— now place the company at investment grade, supporting its growth strategy and the strong performance of its businesses.
Santiago, Chile, April 1.– S&P Global Ratings upgraded Grupo Falabella’s credit rating from BB+ to BBB-, with a stable outlook. According to its report, the upgrade reflects the company’s consistent improvement in operating results over the past year, along with a significant reduction in debt and stronger cash generation.
The agency also highlighted the company’s ability to sustain solid performance and maintain financial discipline, even amid structural challenges facing the retail industry. In this regard, it recognized progress in Falabella’s omnichannel strategy, the continued growth of e-commerce, and the diversification of its business model—which includes supermarkets, home improvement, shopping malls, and banking—strengthening its competitive positioning across the region.
“This rating upgrade is a signal of confidence in the company from S&P. It validates our financial strength and the strong results we have delivered consistently over recent quarters. We have a robust value proposition across each of our businesses and solid EBITDA generation, enabling us to enter this new stage of growth on firm foundations,” said Alejandro González, CEO of Grupo Falabella.
Meanwhile, the company’s CFO, Juan Pablo Harrison, stated: “The broad-based improvement across our operations and greater discipline in capital allocation allowed us to regain investment-grade status from both international rating agencies. In 2025, the company achieved a record EBITDA of US$2.141 billion, with a margin of 14.6%.”
This announcement follows an upgrade by Fitch Ratings in October 2025, when it raised Grupo Falabella’s rating to BBB-, consolidating investment-grade recognition from both agencies and validating a strategy that has been delivering sustained positive results.
Accordingly, Grupo Falabella reaffirms its strong position to continue executing its growth plan, focused on enhancing its technological and commercial capabilities across the region and continuing to capture long-term opportunities.
