Safeway Default Outlook ‘Negative’: Fitch

NEW YORK — Fitch Ratings on Friday affirmed its ratings on Safeway’s debt, but revised its outlook from "stable” to “negative” based on Fitch’s expectation that soft sales and operating results will continue amid relatively high leverage.

“The negative outlook reflects Safeway's weak traction on identical store sales and soft operating trends, as Safeway and other traditional supermarkets have ceded

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