Friday, September 16, 2016

Moody's Slams Sears, Says Battered Kmart May No Longer Be Viable

With never-ending losses for Sears in plain sight, which are calling into question the company's liquidity outlook, Moody's decided to drop the hammer on the beleaguered retailer this week.

The rating agency slashed its speculative grade liquidity rating on Sears one notch to SGL-3 from SGL-2. The new rating reflects the likelihood Sears will continue to need outside financing to stay in business, and that it may require covenant relief in order to maintain orderly access to funding lines.. . . more

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