S&P puts Barneys on positive watch

Standard & Poor's said it placed its ratings on Barneys New York Inc., including the CCC corporate credit rating, on CreditWatch with positive implications.

S&P said that although 2009 was an extremely challenging year for Barneys, it expects operations to improve moderately over the near term as luxury consumer spending increases during the first half of 2010.

The agency also said that fourth-quarter and near-term performance trends for Barneys should be in line with other upscale luxury department stores, such as Neiman Marcus and Saks.

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