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Published on 4/1/2009 in the Prospect News Investment Grade Daily.

S&P downgrades Wegmans

Standard & Poor's said it lowered the corporate credit rating for Wegmans Food Markets Inc. to BBB+ from A-.

The outlook is stable.

"This action reflects our reassessment of Wegmans' business profile, credit metrics which are more reflective of BBB+ ratings following the company's increased debt levels due to higher capital spending and lower operating margins," S&P analyst Stella Kapur said in a statement.


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