Macy's lowers 2011 interest expense forecast
Macy's Inc
Macy's, which last month regained an investment grade rating from Standard & Poor's thanks in part to improving sales, said the new agreement matures on January 20, 2015, and replaces a $2 billion agreement that was to mature in August 2012.
Macy's now expects interest expense of $442 million this year, down from its earlier forecast of $450 million.
(Reporting by Phil Wahba; editing by John Wallace)
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