S&P boosts Kohl's

Standard & Poor's said it raised its ratings on Kohl's Corp. and removed them from CreditWatch, where they had been placed with positive implications on March 21.

The agency said that the corporate credit rating was raised to A- from BBB+.

The outlook is stable.

The upgrade reflects the good sales and profit trends over the past two years and the expectation that the company will maintain a conservative financial policy as it continues its growth strategy, the agency noted.

The ratings on Kohl's are based on the company's solid position as a family-oriented specialty department store, strong measures of profitability and cash flow protection and geographic diversity, according to S&P.

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