NEW YORK, April 26 - Moody's Investors Service placed the Ba2 rating of Best Buy Company, Inc.'s. $220M senior unsecured revolving credit facility under review for possible upgrade reflecting the improvement in the company's operating performance and debtholder protection measures.
Moody's review will focus on the outlook for further sustained operating improvement, including consumer demand for electronic products and accessories, as well as the company's financial policy and investment needs.
The ratings continue to take into account strong competition from regional and national consumer electronics chains, the growth of Internet retailing, and the uncertainty surrounding the computer retailing industry.
Best Buy, Co., Inc., headquartered in Eden Prarie, Minnesota, is a leading discounter of consumer electronics, home office products, appliances, and entertainment software.
Revenues were $10 billion in the year ended January 1999.
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