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MOODY'S MAY UPGRADE SAKS.

fresh YORK -- Moody's Investors Service last week changed the direction of its review of Saks Incorporated to a possible upgrade of ratings from a potential downgrade because the company improved its liquidity and cur the technical defaults triggered by the agency of its failure to file fiscal yearend financial statements in a timely manner.

The completion of Saks' sale of its Proffitt's and McRae's operation for $622 million last





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