UPDATE: AIG, Coface Said to Reduce Size of Sears (SHLD) Trade Credit Policies - Bloomberg
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(Updated - May 14, 2014 3:52 PM EDT)
AIG and Coface reduced the size of trade credit policies offered to Sears (Nasdaq: SHLD) suppliers, according to reports from Bloomberg, citing sources. AIG is said to have cut the size of some new polices by as much as 50%.
Sears and J.C. Penney (NYSE: JCP) stocks both reacted to the headline, trading lower.
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