Sears Debt Rating Put on CreditWatch Negative

S&P says it will likely lower the department store giant's rating if Sears sells its credit business

On March 26, 2003, Standard & Poor's placed its 'BBB+' corporate credit and long-term ratings on major department store retailer Sears (S ) and its affiliates, including Sears Roebuck Acceptance Corp., on CreditWatch with negative implications. The 'A-2' short-term corporate credit and commercial paper ratings on Sears Roebuck Acceptance Corp. were affirmed and were not placed on CreditWatch. As of Dec. 28, 2002, Sears had about $30.6 billion of debt outstanding.

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