S&P: American Greetings unchanged

Standard & Poor's said its ratings and outlook on American Greetings Corp. (BBB-/positive) remain unchanged following the announcement that its board of directors has authorized a $200 million common stock share repurchase.

S&P said it expects that share repurchases will be made at a measured pace and that the company's strong cash-generating ability will enable credit measures to remain appropriate for the current rating.

Despite lackluster performance in the third fiscal quarter, the agency added it expects American Greetings to stabilize operating performance and maintain a moderate financial policy regarding future acquisitions and share repurchases.

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