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.
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