S&P Raises Corporate Rating for Safeway

NEW YORK — Citing improved credit metrics, lower debt and positive sales momentum, Standard & Poor’s here on Wednesday raised its corporate ratings for Safeway, the Pleasanton, Calif.-based retailer. S&P raised Safeway’s corporate credit and senior unsecured ratings from “BBB-” to “BBB,” and the short-term rating from “A-3” to “A-2” The outlook is stable.

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