S&P: Wesfarmers view to positive

Standard & Poor's said it affirmed the BBB+/A-2 ratings on Wesfarmers Ltd. and related debt issues and programs.

The outlook was revised to positive from stable.

The positive outlook reflects a view that Wesfarmers' diverse portfolio of businesses, improving operating performance, long-term return focus and creditor-friendly capital management approach could lead to an upgrade of the long-term credit rating to A- in the next two years, S&P said.

The outlook considers an expectation for some moderation in retail sales in the near term, the agency said.

S&P noted that while improving coal prices may provide a significant boost to group earnings in the next two years, this is not a key driver of the upside rating potential.

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