Standard & Poor's Ratings Services said it has revised its outlook on US-based Kroger Co to positive from stable, reflecting continued same-store sales growth and lower debt levels.
At the same time, S&P affirmed the 'BBB-' corporate credit and other ratings on Kroger, a major supermarket operator.
'We expect Kroger's free cash flow will primarily be used to repurchase shares and pay dividends. This differs from management's prior policy of using one-third of free cash flow for debt reduction and two-thirds for share repurchase and dividend activity,' S&P said.
