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