...+ U.S. specialty retailer The Gap Inc. has maintained a solid cash balance (about $1.8 billion as of February 2018), and we expect cash flow generation will further strengthen, partially benefitting from the revised U.S. corporate tax code. As a result, we are revising our liquidity assessment to exceptional from strong. + We are affirming all our ratings, including the '##+' corporate credit rating, on The Gap. + The stable outlook reflects our expectation that the company's consolidated operating performance will remain generally stable, as good performances from its largest brand Old Navy and growth brand Athleta more than offset a weaker trend at The Gap and Banana Republic brands. We believe the company will use its good free operating cash flow and meaningful cash balance to maintain credit metrics at recent levels, which are solid for the rating....
