S&P Upgrades Ahold

Standard & Poor's here has upgraded its rating on Ahold, citing progress the retailer made in sales and debt control, according to reports Wednesday.

NEW YORK — Standard & Poor's here has upgraded its rating on Ahold, citing progress the retailer made in sales and debt control, according to reports Wednesday.

The ratings agency boosted its corporate grade to "BBB" and also lifted its grade on the company’s senior secured notes to "BBB-" a step ahead of "junk" status, the Wall Street Journal said.

Ahold last month reported strong sales in the U.S. despite a loss related to divestiture charges.

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