S&P: Rent-Way unchanged

Standard & Poor's said its ratings and outlook on Rent-Way Inc. (B+/negative) are unaffected by the company's announcement that it had hired Citigroup in late 2004 to help it evaluate refinancing and strategic alternatives.

Although the evaluation continues and other retailers have recently agreed to several LBO transactions, no rating action is being taken on Rent-Way at this time because no transaction has been announced since the engagement began 18 months ago, the agency noted.

S&P said it will continue to monitor any developments that may arise from the strategic review.

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