S&P: No change to Wal-Mart

Standard & Poor's said that allegations about alleged breaches of the Foreign Corrupt Practices Act by Wal-Mart Stores Inc. do not have an impact on the current ratings or outlook on the company at this time.

Notwithstanding Wal-Mart's strong and sustained commitment to avoiding corruption and bribery evidenced in corporate policy documents and disclosures, according to S&P, significant questions have now arisen about the communication of those policies to employees, including senior executives and the meaningful commitment to compliance with those policies.

If these allegations are true, S&P said, this suggests Wal-Mart's governance and controls are less than S&P would have expected for a multinational company of this stature and rating.

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