U.S. specialty apparel retailer Gap Inc. has improved operating performance with meaningfully increased operating margins and consistent positive same store sales, which warranted a change in our assessment of Gap's business risk profile to "satisfactory" from "fair". We are raising our ratings on Gap, including the corporate credit rating, to 'BBB-' from 'BB+'. The stable outlook reflects our expectation that operating performance will remain good and credit metrics will continue to be in line with an intermediate financial risk profile. NEW YORK (Standard&Poor's) May 10, 2013--Standard&Poor's Ratings Services today raised its ratings, including the corporate credit rating, on San Francisco-based specialty apparel retailer The Gap Inc. (Gap) to 'BBB-' from 'BB+'. The outlook is stable. "We
