Moody’s might upgrade Ward’s debt ratings.

Prompted by Montgomery Ward’s “continued improvements in reducing costs, streamlining operations and improving returns,” Moody’s Investors Service said it is reviewing the long-term ratings of the retailer and its subsidiary, Montgomery Ward Credit Corp., with the possibility that they might be upgraded. Under review are ratings on Ward senior debt of about $144 million and on senior debt at the credit unit of about $1.36 billion.