S&P: Wal-Mart unaffected

Standard & Poor's said Wal-Mart Stores Inc.'s (AA/stable/A-1+) announcement that it raised its ownership in Seiyu to 95.1% from 50.9% has no immediate impact on its rating or outlook.

S&P said it sees the action as part of Wal-Mart's plans to accelerate its international expansion. Given Seiyu's small size, the agency said it believes the business will have a minimal impact on Wal-Mart's consolidated results in the near term.

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