Moody's: Wal-Mart layaway program is positive

Moody's Investors Service said that Wal-Mart Stores, Inc.'s Aug. 20 announcement that it will be broadening the categories and lengthening the purchase window for its layaway program in its U.S. stores is a credit positive for the company.

The new categories this holiday will include small appliances and some big-ticket sporting goods, and the "window" for using the program will run an extra month, beginning September 16 and running until December 14. The layaway program will also apply to a broad selection of electronics and toys, as well as jewelry, which remains a year-round customer offering.

"Starting the program in mid-September, and including new popular holiday categories, provides more opportunity for cash-strapped consumers to manage their holiday spending," Moody's senior analyst Charlie O'Shea said in a news release.

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