Standard & Poor’s downgraded the Famous Footwear parent to BB- from BB with a negative outlook and Moody’s downgraded its corporate family rating to Ba3 from Ba2, probability of default rating to Ba3-PD from Ba2-PD and senior unsecured notes rating to B1 from Ba3. The downgrades were precipitated by CAL’s weaker than expected 2019 earnings, and the expectation of future damage to traffic ... Log in to view full article.