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S&P raises Gap ratings to 'BBB-' from 'BB+'

On Friday evening, Standard & Poor's Ratings Services raised its ratings, including the corporate credit rating, on San Francisco-based specialty apparel retailer The Gap to 'BBB-' from 'BB+'. The outlook is stable. "We based the upgrade on view that Gap can sustain recent trends in same-store sales growth, careful organic expansion and margin expansion," said Standard & Poor's.