Moody's ups Costco to Aa3

Moody's said it upgraded all ratings of Costco Wholesale Corp., including the senior unsecured rating, which was upgraded to Aa3 from A1.

The outlook is stable.

“Today's rating action recognizes Costco's position as one of the top performers in all of global retail, with its superior execution ability resulting in a quantitative credit profile that leads the rated retail universe,” stated Moody's vice president Charlie O'Shea in a news release.

“Costco has proven the portability of its membership/warehouse concept, with a very successful and expanding international operation, which is a key characteristic of an Aa retailer, augmenting its already highly-successful North American business.”

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