USA: Fitch Announces Rating Actions After Saks Inc's Spin-Off
Fitch has assigned a rating of `BBB-' to the senior unsecured debt of Saks Incorporated's Department Store Group (DSG), and a rating of `BB+' to the implied senior unsecured debt of Saks Fifth Avenue Enterprises (SFA). The outlook for both ratings is stable. The rating actions follow Saks Incorporated's announcement that it will be spinning off its Saks Fifth Avenue business, creating two separate public companies.
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