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Standard & Poor's to Review Dayton Hudson 'with Negative Implications'.(Originated from Saint Paul Pioneer Press, Minn.)
Knight Ridder/Tribune Business News, July, 1995 by McCartney, Jim
ST. PAUL, Minn.--Jul. 11--Continued problems at Mervyn's have prompted Standard & Poor's to review "with negative implications" Dayton Hudson Corp.'s debt rating, the bond rating company said Monday.
The New York-based debt rating service said that its decision follows Dayton Hudson's June sales report last week that its troubled Mervyn's subsidiary showed further declines in same-store and total sales.
About $4.9 billion of the Minneapolis-based retailer's debt could face a possible downgrade, the rating agency said. Dayton Hudson's senior debt is now rated 'single A,' while its commercial paper is rated 'A-1.'
Dayton Hudson has an "extensive capital spending program" this year, according to Standard & Poor's. This year's capital spending will be...
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