New York, January 16, 2014 -- In a release published earlier today, and available on moodys.com, Moody's Investors Service stated that Best Buy's Holiday sales announcement indicates the company is generally meeting its expectations as we continue to view 2013 as a transition year. "Best Buy has been performing the balancing act between defending and growing its market share while trying to preserve as much margin as possible in the face of highly-promotional competitors, which we believe is a solid strategy for the medium-to- long-term," stated Moody's Vice President Charlie O'Shea. "We note the company's excellent liquidity position, with over $2 billion in cash at the end of Q3 against $1.5 billion in funded debt with a favorable maturity schedule, which results in an LTM retained cash flow/net debt metric of approximately 30%. This provides the company with the flexibility to absorb some level of margin compression at the current rating level while it completes its transition. We believe it is likely that the company will end the year with well over $2 billion in cash, with the result this key credit metric should remain in the high 20% range at the February 2014 fiscal year-end."

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