S&P lowers A&P

Standard & Poor's said that it downgraded the corporate credit ratings of Great Atlantic & Pacific Tea Co. Inc. to CCC from CCC+.

The agency said it expects weak trends to continue and the company to be significantly cash flow negative.

The negative outlook reflects its projection that the company may be illiquid at some point in the near term as a result of weak performance and its considerable near-term maturities, S&P noted.

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