New York, January 28, 2014 -- Moody's Investors Service today said that Hudson's Bay Company's announcement that it has agreed to a sale/leaseback of its downtown Toronto flagship retail complex and the Simpson's Tower located at 401 Bay Street to an affiliate of The Cadillac Fairview Corporation Limited for a purchase price of CAD $650 million is considered a possible credit positive for the company, depending on the extent of debt paydown with the proceeds. There is no impact at the current time on the company's B1 Corporate Family Rating or the stable rating outlook.

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