Wednesday, January 24, 2018

Sears downgraded by Fitch Ratings

Chain Store Age

Fitch Ratings downgraded Sears Holdings Corp.’s ratings to C from CC, after the retailer announced a distressed debt exchange.

Sears said it has commenced an exchange various tranches of debt held by Sears and its Kmart business, Marketwatch reported. The exchange involves pay-in-kind notes that allow the company to make interest payments with more debt.. . . more