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FORM 8-K
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported)
April 24, 1996
THE MAY DEPARTMENT STORES COMPANY
(Exact name of Registrant as specified in its charter)
New York I-79 43-0398035
(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification No.)
incorporation)
611 Olive Street, St. Louis, Missouri 63101
(Address of principal executive offices) (Zip code)
Registrant's telephone number, including area code:
(314) 342-6300
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Item 5. Other Events.
On April 24, 1996, Registrant filed its Annual Report on
Form 10-K for the Fiscal Year ended February 3, 1996. Item 7,
"Management's Discussion and Analysis of Financial Condition and
Results of Operation" incorporated by reference the "Management's
Discussion and Analysis" section of Registrant's 1995 Annual
Report to Shareowners. In this section, Registrant reflected
that its bonds are rated single-A-2 by Moody's Investors Service,
Inc. and single-A by Standard & Poor's Corporation and that its
commercial paper is rated prime-1 and single-A-1 by Moody's and
Standard & Poor's respectively. A security rating is not a
recommendation to buy, sell or hold securities; it may be
subject to revision or withdrawal at any time by the assigning
rating organization; and each rating should be evaluated
independently of any other rating.
Based on information from Moody's Investors Service, Inc.:
Bonds rated single-A possess many favorable investment
attributes and are to be considered as upper-medium-grade
obligations:
- Factors giving security to principal and interest are
considered adequate, but elements may be present which
suggest a susceptibility to impairment some time in the
future;
- Moody's applies numerical modifiers, 1, 2 and 3 in its
single-A rating. The modifier 1 indicates that the
security ranks in the higher end of its generic rating
category; the modifier 2 indicates a mid-range ranking;
and the modifier 3 indicates that the issue ranks in
the lower end of the category.
Issuers rated prime-1 have a superior ability for repayment
of senior short-term debt obligations;
- Repayment ability is often evidenced by leading market
positions in well-established industries, high rates of
return on funds employed, conservative capitalization
structure with moderate reliance on debt and ample
asset protection, broad margins in earnings coverage of
fixed financial charges and high internal cash
generation, and well-established access to a range of
financial markets and assured sources of alternate
liquidity.
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Based on information from Standard & Poor's Corporation:
Debt rated single-A has a strong capacity to pay interest
and repay principal although it is somewhat more susceptible
to the adverse effects of changes in circumstances and
economic conditions than debt in higher rated categories.
- The rating may be modified by the addition of a plus or
minus sign to show relative standing within the
category.
A commercial paper rating of single-A indicates that the
issuer has the greatest capacity for timely payment of debt
having an original maturity of no more than 365 days.
- The rating may be modified with the numbers 1, 2 and 3
to indicated the relative degree of safety.
- A single-A-1 rating indicates that the degree of safety
regarding timely payment is either overwhelming or very
strong. Issues determined to possess overwhelming
safety characteristics are denoted with a plus (+) sign
designation.
Item 7. Financial Statements and Exhibits.
(c) Exhibits. The following documents are filed as Exhibits.
Sequential
Numbering
System
Exhibit No. Exhibit Page Number
28-1 Annual Report on Form 10-K for the
Fiscal Year Ended February 3, 1996
(incorporated herein by reference to
the Registrant's Annual Report on Form
10-K for the Fiscal Year Ended February
3, 1996, File No. 1-79, previously
filed on April 24, 1996.)
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act
of 1934, the Registrant has duly caused this report to be signed
on its behalf by the undersigned hereunto duly authorized.
THE MAY DEPARTMENT STORES COMPANY
Dated: April 24, 1996 By: /s/ Richard A. Brickson
Richard A. Brickson
Secretary and Senior Counsel
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INDEX TO EXHIBITS
Sequential
Numbering
System
Exhibit No. Exhibit Page Number
28-1 Annual Report on Form 10-K for the
Fiscal Year Ended February 3, 1996
(incorporated herein by reference to
the Registrant's Annual Report on Form
10-K for the Fiscal Year Ended February
3, 1996, File No. 1-79, previously
filed on April 24, 1996.)
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