30.07.2013 00:42:00

Saks Incorporated -- Moody's places Saks' CFR on review for downgrade

New York, July 29, 2013 -- Moody's Investors Service today placed Saks Incorporated Ba2 Corporate Family Rating and Ba2-PD Probability of Default Rating on review for downgrade. The review for downgrade follows the announcement that Hudson's Bay Company has agreed to purchase Saks for $16 per share or a total transaction price of approximately $2.9 billion. At the same time, Moody's affirmed Saks' Ba3 senior unsecured notes rating.

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