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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: ThirdEye who wrote (16116)	11/17/2004 5:08:19 PM
From: mishedlo	Read Replies (1) of 116555

Fitch puts Sears debt on Rating Watch Negative By August Cole SAN FRANCISCO (CBS.MW) -- Fitch Ratings has put Sears, Roebuck & Co. (S: news, chart, profile) debt on Rating Watch Negative, according to an announcement after the bell Wednesday. The move comes after Kmart Holding Corp.'s (KMRT: news, chart, profile) $11 billion bid for the retailer. "The Rating Watch reflects the risks associated with combining two underperforming retailers, uncertainty as to the new company's operating, financial and real estate strategies, and reduced financial flexibility as a result of the cash outlay required to complete the merger," Fitch analysts wrote in a statement.

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