Bank won't renew Sears credit

HOFFMAN ESTATES --Bank of America Corp. said it wouldn't renew a $1 billion letter of credit under existing terms for Sears Holdings Corp., the retailer being reorganized by hedge-fund investor Edward Lampert. Losing the credit probably won't affect access to cash, Sears said in a regulatory filing on April 18. The retailer had $1.62 billion in cash as of Feb. 2, a 58-percent decline from a year earlier.