Fitch affirms Target

Fitch Ratings said it affirmed its ratings on Target Corp., including the long-term issuer default rating at A; senior unsecured debt at A; bank credit facility at A; short-term issuer default rating at F1; and commercial paper at F1.

The outlook is stable.

The affirmations reflect the steady operating performance in Target's retail business, a reduction in the risk profile of its credit card business, and stable credit metrics, Fitch noted.

The ratings also consider Target's high percentage of real estate ownership balanced by the difficult consumer environment and intense competition in the discount retail segment, the agency stated.

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