S&P: Nordstrom outlook negative

Standard & Poor's said it revised its outlook on Nordstrom Inc. to negative from stable and affirmed its ratings, including the A- long-term and A-2 short-term ratings.

The agency said the outlook revision reflects its belief that the company will be more challenged than previously expected by the current weak economic environment in the United States and that credit metrics will deteriorate more than S&P had originally projected as a result of a deepening spending pull-back by consumers.

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