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Bulletin: Costco Wholesale Corp. Ratings Unaffected By Grand Jury Subpoena Mar 07
Standard & Poors, March 2007
Abstract
NEW YORK (Standard & Poor's) March 19, 2007--Standard & Poor's Ratings Services said today there would be no immediate impact on the current ratings or outlook on Costco Wholesale Corp. (A/Stable/A-1) following the news that it was served with a grand jury subpoena from the U.S. Attorney's Office in the Western District of Washington on March 15, 2007. The subpoena seeks documents and information relating to the granting of stock options. Costco said it will cooperate fully with the inquiry. The company concluded its own prior internal review of its stock option practices from 1996 to 2005 and found that it was unable to determine the appropriate measurement date for certain grants for financial accounting purposes. The special committee looking...
Companies mentioned in this report are: Costco Wholesale Corp.
Action: Bulletin
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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