Moody's: Ace, Sears agreement a boon

Moody's Investors Service stated that the new agreement between Ace Hardware Corp. and Sears Holdings allowing Ace to sell Craftsman products through its network of about 4,500+ retail stores should be viewed positively.

"Craftsman is the world's largest selling tool brand, and having the ability to sell these products represents a clear competitive advantage for Ace within the hardware and home improvement segment," stated Moody's senior analyst Charlie O'Shea.

The last rating action for Ace was the May 1, 2008 first-time assignment of the Ba3 corporate family and probability of default ratings with a stable outlook, the agency noted.

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