By  on December 9, 2010

A strong holiday showing could lead Saks Inc. to a better credit rating.

Moody’s Investors Service upgraded the luxe retailer’s probability of default rating to “B2” from “B3” and put the rest of Saks’ credit ratings on review for possible upgrade late Thursday afternoon. The debt watchdog said its review would focus on fourth-quarter performance as well as the company’s liquidity, debt maturities and operating strategies, including plans for further store closures.

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