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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 22, 1998
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 22, 1998, Registrant filed its Annual Report on
Form 10-K for the Fiscal Year ended January 31, 1998. 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 1997 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;
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- 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.
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 January 31, 1998
(incorporated herein by reference to
the Registrant's Annual Report on Form
10-K for the Fiscal Year Ended January
31, 1998, File No. 1-79, previously
filed on April 22, 1998.)
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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 22, 1998 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 January 31, 1998
(incorporated herein by reference to
the Registrant's Annual Report on Form
10-K for the Fiscal Year Ended January
31, 1998, File No. 1-79, previously
filed on April 22, 1998.)
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