S&P raises Sears Canada outlook to stable

Standard & Poor's said it revised the ratings outlook on Sears Canada Inc. to stable from negative.

The agency said that this action was taken to reflect the strong majority ownership of Sears Canada by its parent, Sears Holdings Corp. and therefore to equalize the outlook with Sears Holdings.

The corporate credit rating for both issuers is unchanged at BB+.

The stable outlook for the consolidated issuer reflects S&P's confidence that Sears Holdings' management is successfully developing and implementing back-to-basics programs that are aimed at operational improvements and building a better relationship with customers.

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