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S&P boosts 7-Eleven
Standard & Poor's said it raised to AA- from A the long-term corporate credit rating on 7-Eleven Inc., in line with those on its parent company, Seven-Eleven Japan Co. Ltd. (AA-/negative/A-1+) and the group's holding company, Seven & I Holdings Co. Ltd. (AA-/negative).
The outlook is stable.
S&P said the upgrade reflects the enhanced stand-alone credit quality of 7-Eleven in tandem with the company's financial improvement, as the company maintains strong earnings in the North American retail market, mainly in its food products.
In addition, the company's strategic importance within the Seven & I group has been increasing, the agency noted.
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