Hudson’s Bay Company Requests to Withdraw from Rating Services of S&P and Moody’s
22 November 2019 - 5:54PM
Business Wire
Hudson’s Bay Company (TSX: HBC) recently requested to be
withdrawn from the credit rating services of Moody’s Investors
Service Inc. and Standard & Poor’s Financial Services, LLC.
Both firms rated HBC’s $429 million term loan, which was repaid and
retired in October 2019, prompting HBC’s request.
HBC appreciates the independent point of view the rating
agencies provide and will consider using credit rating services to
rate any future loans and borrowings as needed.
About HBC HBC is a diversified retailer focused on
driving the performance of high-quality stores and their
omni-channel platforms and unlocking the value of real estate
holdings. Founded in 1670, HBC is the oldest company in North
America. HBC’s portfolio today includes formats ranging from luxury
to premium department stores to off price fashion shopping
destinations, with nearly 250 stores and approximately 30,000
employees around the world. HBC’s leading businesses across North
America include Saks Fifth Avenue, Hudson’s Bay, and Saks OFF 5TH.
HBC also has significant investments in real estate joint ventures.
It has partnered with Simon Property Group Inc. in the HBS Joint
Venture, which owns properties in the United States. In Canada, it
has partnered with RioCan Real Estate Investment Trust in the
RioCan-HBC Joint Venture.
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version on businesswire.com: https://www.businesswire.com/news/home/20191122005428/en/
Investor Relations: Jennifer Bewley, 646-802-4631
ir@hbc.com
Media: Andrew Blecher, 646-802-4030 press@hbc.com