NEW YORK -- After the three largest supermarket companies reported mediocre results for 2004 and weak outlooks for 2005, Standard & Poor's here last week said it was considering downgrading its ratings for the debt of all three. A downgrade could make it more expensive for Kroger, Albertsons and Safeway to borrow money, analysts said. In a conference call discussing S&P's decision to place the debt on "CreditWatch with negative implications," Mary Lou Burde, analyst, S&P, said ...

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