The bad news didn’t end there.
The sports equipment and apparel retailer UA, -0.27% also had its credit downgraded, sending its sole bond issue into speculative, or “junk” territory.
Standard & Poor’s cut its rating on the issuer to BB-plus from BBB-minus, the last level of investment grade. The outlook on the rating is negative, meaning S&P could lower it again in the medium term. . . . more