The ratings on Dollar General Corp. were placed on CreditWatch with negative implications April 30, 2001. The CreditWatch placement followed management's disclosure that it had been investigating allegations of fraudulent behavior and reviewing internal controls and financial reporting processes as a result of certain accounting irregularities. Dollar General said that it would be restating its financial statements for fiscal years 1998 and 1999 as well as its unaudited results for fiscal 2000. In addition, the company expects to delay the filing of its Form 10-K for fiscal 2000 and its report on first-quarter results for fiscal 2001. Standard&Poor's is concerned that this development could highlight shortcomings in the company's financial controls, that the financial impact could be larger
