Moody's: Wal-Mart unchanged

Moody's Investors Service said the closing of Wal-Mart Stores, Inc.'s acquisition of a 51% stake in South African retailer Massmart for about $2.5 billion will have no impact on Wal-Mart's Aa2/prime -1 ratings.

The outlook remains stable.

Wal-Mart has sufficient excess cash to fund this investment with little impact on its overall credit profile or its overall liquidity, Moody's said.

The agency said it continues to believe that South Africa represents a logical market for Wal-Mart to enter and this transaction structure seems a sensible strategy.

The ratings consider Wal-Mart's position as the world's largest retailer and the myriad of competitive advantages this generates, Moody's said.

The ratings also reflect its growth potential and excellent liquidity, the agency added.

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