| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers S > Headlines for Sears Holdings Corp. > News item |
S&P lowers Sears to CCC+
Standard & Poor's said it lowered its corporate credit rating on Sears Holdings Corp. to CCC+ from B.
S&P removed the rating from CreditWatch, where it had placed it with negative implications on Dec. 28, and lowered the short-term and commercial paper rating to C from B-2.
The outlook is negative.
"The corporate credit rating reflects our projection that Sears' EBITDA will be negative in 2012, given our expectations for continued sales and margin pressure," S&P credit analyst Ana Lai said in a news release.
"We further expect that liquidity could be constrained in 2013 absent a turnaround or substantial asset sales to fund operating losses," Lai added in the release.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.