Moody's: American Greetings unaffected

Moody's Investors Service said it reported no change to the ratings of American Greetings Corp. following its announcement of a new $200 million share repurchase program, to be completed over the next year.

Moody's said its recent decision to revise the company's outlook to stable from positive considered the potential for future share repurchases.

Over the near-term, Moody's said it remains focused on American Greetings' plans to address its long-term capital structure given the potential dilutive impact associated with the $175 million convertible notes, maturing July 2006.

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