Friday, March 27, 2020

Michaels, Gap, At Home, Container Store among latest downgrades on pandemic disruption

Retail Dive
Credit downgrades on retail companies have accelerated this week as the industry weathers unprecedented store closures and a precarious economy caused by the spread of COVID-19.

In the course of one day on Thursday, S&P Global downgraded four retail companies: Michaels (to a B rating), At Home Group (to CCC+), The Container Store (to B-) and Spectrum Brands (to B), according to emailed press releases. The pandemic was mentioned in all four press releases.. . . more