S&P raises Costco

Standard & Poor's said it raised its corporate credit rating on Costco Wholesale Corp. to A+ from A.

At the same time, the agency said it raised its ratings on the company's $2 billion senior unsecured notes due 2012 and 2017 to A+ from A while it also raised the ratings on the Costco's subordinated debt due 2017 to A from A-.

The short-term A-1 rating remains unchanged, S&P added.

All ratings were removed from Creditwatch positive, where we placed them on Dec. 11, the agency said.

"The rating reflects Issaquah, Wash.-based leading discount club retailer Costco Wholesale Corp.'s strong business profile and only modest financial risk," said S&P credit analyst Mariola Borysiak.

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