- S&P affirms Best Buy (BBY) at BB and raises its outlook on the company to Stable from Negative.
- "Downside risk has moderated," the ratings agency says, adding that "sales trends should improve modestly" going forward.
- In a fine example of stating the obvious, S&P says it would be inclined to raise its rating on the company if BBY grows sales and profits "meaningfully and sustainably." (full note)
S&P raises its outlook on Best Buy, says upgrade contingent on higher profits
Aug 21 2013, 16:01 ET