S&P Cuts Sears Credit Rating

The rating agency cited the adverse impact that the retailer's Sears Gold MasterCard has had on its overall credit business

On Feb. 28, 2003, Standard & Poor's lowered its corporate credit ratings on Sears, Roebuck and Co. (S ) and its affiliates to 'BBB+' from 'A-'. The ratings were removed from CreditWatch where they were placed Oct. 18, 2002 with negative implications. The 'A-2' short-term corporate credit and commercial paper ratings on Sears Roebuck Acceptance Corp. were not placed on CreditWatch and were previously affirmed.

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