NY -- Standard&Poor's CreditWire 6/3/97 – Standard&Poor's today has affirmed its ratings on Wal-Mart Stores Inc.'s debt following the company's announcement that it intends to acquire a controlling interest in Cifra S.A. de C.V., its Mexican joint venture partner, for $1.2 billion, in conjunction with the merger of the joint venture companies into Cifra (see table below). The joint venture, of which Wal-Mart and Cifra each own 50% at present, operates 145 retail units and restaurants in Mexico. About $10 billion of rated debt is outstanding. Wal-Mart's financial results continued to improve in the first quarter of fiscal 1997, ended April 30, 1997, following a strong performance in 1996. U.S. comparable store sales growth exceeded 5%
