S&P puts Marsh on developing watch

Standard & Poor's said it placed its ratings on Marsh Supermarkets Inc. on CreditWatch with developing implications, including the B- corporate credit rating and CCC subordinated debt rating.

The placement followed the company's announcement that it has retained Merrill Lynch & Co. to explore strategic alternatives for the enhancement of shareholder value, including a possible sale of the company to a strategic or financial buyer.

S&P said Marsh does not expect to update its progress or disclose developments with respect to the exploration of strategic alternatives unless and until its board of directors has approved a definitive transaction.

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