TOKYO (Standard&Poor's) Feb. 3, 2009--Standard&Poor's Ratings Services today revised to negative from stable the outlook on its long-term corporate credit rating on Aeon Co. Ltd. (Aeon). The outlook revision reflects limited earnings contributions from recent acquisitions and investments, as well as continued up-front investment burdens relating to new stores. Standard&Poor's also takes the view that prospects for an early improvement in Aeon's earnings base and financial profile have receded as the company's earnings are declining amid a rapid downturn in both domestic and global consumption. At the same time, Standard&Poor's affirmed its 'A-' long-term corporate credit and long-term senior unsecured ratings on Aeon. Standard&Poor's also affirmed its ratings on Aeon's
