Carter Hawley Hale Stores Inc. has established...

Carter Hawley Hale Stores Inc. has established a $700-million credit card receivables operation. CHH Commercial Paper Inc., a special purpose corporation not affiliated with Carter Hawley Hale Stores, will acquire interest in the receivables through the issuance of commercial paper, which has been rated A-1 by Standard & Poor’s Corp. and P-1 by Moody’s Investors Service. Carter Hawley Hale will continue to service the credit card portfolio.