S&P assigns GameStop notes B+

Standard & Poor's said it assigned its B+ corporate credit rating to GameStop Corp.

The outlook is stable.

The agency said it also assigned a B+ rating to the proposed $950 million of unsecured fixed- and floating-rate notes due in 2011 and 2012.

Ratings reflect increased business risk due to its acquisition of EB Games, its participation in the highly competitive video game and PC entertainment software industry, the cyclical and seasonal nature of the industry and its high leverage, the agency noted.

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