* Debt ratings of HCA-The Healthcare Co. and Tenet Healthcare Corp. were upgraded by Moody's Investors Service as the No. 1 and No. 2 U.S. hospital companies paid down debt and improved their cash flow. The upgrades to "positive" from "stable" affect $7.5 billion in HCA debt and bank credit lines and $6 billion in Tenet debt and credit facilities, Moody's said. Santa Barbara-based Tenet this week reported a 30% increase in its fiscal third-quarter profit.
* Federated Department Stores Inc. said it is combining its Bloomingdale's Web site and catalog operations into a new division called Bloomingdale's Direct to make the businesses more efficient. The owner of Macy's, Lazarus and other chains hired Franz Weiglein, 40, a former executive of catalog retailer Lands' End Inc., as president of the new unit. No job cuts are planned as a result of the consolidation, a Federated spokeswoman said.