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Prospect News home > News index > List of issuers B > Headlines for Bon-Ton Stores Inc. > News item |
S&P assigns Bon-Ton B+, notes B-
Standard & Poor's said it assigned its B+ corporate credit rating to The Bon-Ton Stores Inc.
At the same time, the agency said it assigned its B- rating to the company's proposed $525 million eight-year senior unsecured notes.
The outlook is stable.
S&P noted the speculative-grade ratings reflect the business and financial challenges that this department store operator will now have after its $1.1 billion acquisition of the Northern Department Store Group from Saks Inc.
Bon-Ton is substantially expanding its scope of operations with this purchase, it will again more than double its size and extend its geographic presence into the Great Plains and into additional Midwestern markets, the agency added.
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