S&P: Charming Shoppes unaffected

Standard & Poor's said its ratings on Charming Shoppes Inc. (B/negative) are unchanged following the company's announcement that it has entered into an agreement to sell its noncore misses apparel catalogs, Crosstown Traders, to Orchard Brands for $35 million.

Charming Shoppes also announced that it has entered into an agreement for the sale of the misses apparel catalog credit card receivables for about $40 million to Alliance Data Systems Corp., the agency said.

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