S&P: American Greeting on watch

Standard & Poor's said it placed its ratings on American Greeting Corp., including its BBB- corporate credit rating, on Creditwatch with negative implications, meaning that it could lower or affirm the ratings on completion of its review.

"The Creditwatch placement reflects its concerns about American Greetings' ability to improve credit measures closer to its expectations for the current BBB- rating, following the company's weaker than expected third-quarter earnings reported earlier," noted S&P credit analyst Christopher Johnson.

"We will review the company's financial and operating performance and assess the company's ability to improve its operating performance and credit metrics before resolving the Creditwatch listing," he continued.

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