NEW YORK — Citing a strong operating performance relative to its peers, Standard & Poor's here said Wednesday that it could raise its credit rating on Kroger Co. "in the very near term."
Kroger's corporate credit rating is BBB- according to S&P. It said Wednesday it could raise the rating to BBB, "if we achieve adequate comfort regarding management's commitment to maintaining a conservative financial policy and Kroger's future operating performance," Stella Kapur, an analyst for S&P, said in a statement.
S&P downgraded Kroger to BBB- four years ago, a notch from "junk" status. An upgrade would reduce Kroger's cost of borrowing money.
Read More of Today's Headlines