S&P Cuts Limited Brands’ Rating
New York City Standard & Poor’s said Friday it cut the long-term corporate credit rating on Limited Brands Inc. to BB+ from BBB- because of the weak economy. S&P also lowered Limited’s short-term rating to B-1 from A-3. The outlook is “stable.”
“The downgrade reflects our belief that the company will be more challenged than previously expected by the current weak economic environment in the United States, and this will impede its ability to improve credit metrics over the near-term,” said Diane Shane, an S&P credit analyst, in a statement
GameStop offers Nintendo DS reservations
GRAPEVINE, TEXAS GameStop has launched a reservation program for the Nintendo DS, a popular gift item this holiday season. GameStop’s program allows customers to make in-person reservations at any GameStop location in the United States, to guarantee they will get a Nintendo DS.
The reservation process requires payment in full at $129.99 plus tax, with projected delivery between Dec. 28 and Jan. 15, 2009. Customers will receive a co-branded GameStop and Nintendo DS gift card tin to ensure that special someone has a great gift to open this holiday season.
When the reserved Nintendo DS system arrives, the gift-giver will receive a telephone call indicating that their system is available for pick-up. Nintendo DS systems must be picked up at the store location where the reservation was placed.
ODP earns Arkansas Business honor
BOCA RATON, Fla. Office Depot announced that it has been named the “Best Place To Purchase Office Supplies” by Arkansas Business magazine. Winners of the “Best of Business Awards” were voted on by the readers of Arkansas Business.
“Office Depot has been taking care of business for customers in Arkansas for more than 17 years, and we are thrilled to receive this award as voted on by the Arkansas businesses themselves,” said Steve Schmidt, president of Office Depot’s North American Business Solutions Division. “From pens and pencils to office furniture and technology, Office Depot provides business customers with the highest quality office products and the smart solutions they need to succeed.”
In addition to naming Office Depot the “Best Place To Purchase Office Supplies,” readers of Arkansas Business also ranked Office Depot in the top three of the “Best Place To Purchase Office Equipment” and “Best Place To Purchase Office Furniture” categories.