New York, September 17, 2013 -- Moody's Investors Service today assigned a Ba3 rating to Sears Holdings Corporation ("Sears Holdings") proposed $1 billion 1st lien term loan. Moody's also downgraded the rating on Sears Holdings' secured notes due 2018 to B3 from B2, and downgraded the ratings on Sears Roebuck Acceptance Corp's ("SRAC") various senior unsecured notes to Caa2 from Caa1. The company's B3 Corporate Family Rating and its SGL-2 Speculative Grade Liquidity rating were affirmed. The rating outlook remains stable.
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