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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 23, 1997
THE MAY DEPARTMENT STORES COMPANY
(Exact name of Registrant as specified in its charter)
Delaware I-79 43-1104396
(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 23, 1997, Registrant filed its Annual Report on Form
10-K for the Fiscal Year ended February 1, 1997. 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 1996 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 by Moody's and single-A-1 by Standard &
Poor's. 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 many of the following characteristics:
- 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:
An obligation rated "A" is somewhat more susceptible to the
adverse effects of changes in circumstances and economic
conditions than obligations in higher rated categories.
However, the obligor's capacity to meet its financial
commitment on the obligation is still strong.
- The rating may be modified by the addition of a plus or
minus sign to show relative standing within the category.
A short-term obligation rated "A-1" is rated in the highest
category by Standard & Poor's. The obligor's capacity to meet
its financial commitment on the obligation is strong. Within
this category, certain obligations are designated with a plus
sign (+). This indicates that the obligor's capacity to meet
its financial commitment on these obligations is extremely
strong.
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 1, 1997
(incorporated herein by reference to
the Registrant's Annual Report on Form
10-K for the Fiscal Year Ended February
1, 1997, File No. 1-79, previously
filed on April 23, 1997.)
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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 23, 1997 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 1, 1997
(incorporated herein by reference to
the Registrant's Annual Report on Form
10-K for the Fiscal Year Ended February
1, 1997, File No. 1-79, previously
filed on April 23, 1997.)
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