S&P trims Abercrombie & Fitch

S&P said it lowered all its ratings for Abercrombie & Fitch Co. to B+ from BB-, citing an expectation of weaker credit metrics.

“We believe New Albany, Ohio-based specialty apparel retailer Abercrombie & Fitch Co. (ANF) will face significant top-line headwinds this year, as restrictive government mandates across the globe to contain the coronavirus pandemic lead to temporary store closures, deflated consumer confidence and a swift and severe drop in global discretionary consumer spending,” said S&P in a press release.

The outlook is negative.

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