Reflecting the success of the Food First strategy and our continued momentum under the Next Level Sainsbury's strategy, we are now firmly in the middle of our leverage target range and have achieved published investment grade credit ratings from Moody's and Standard & Poor's at Baa3 and BBB respectively.
As a result, we are taking our funding strategy to the Next Level. We have re-entered the investment grade bond market for the first time in more than 20 years, successfully diversifying our funding sources and enhancing our go-forward funding options.
