September 19, 2017
The ratings agency lowered Academy’s corporate debt rating to B3 from B2 and its probability of default rating to B3-PD from B2-PD citing elevated financial risk due to the highly promotional athletic apparel market and weak demand for firearms and ammunition.
Wells Fargo downgraded Under Armour to Underperform with a price target of $13 while Susquehanna downgraded Nike to neutral with a target of $54 and Jeffries downgraded Nike to hold with a price target of $49, giving the industry’s stock performance another jolt.
The latest retailer from a leveraged buyout transaction by private equity groups to file for bankruptcy protection listed assets and liabilities in the $1-10 billion range and estimated that there would be funds available for unsecured creditors.
Interior Secretary Ryan Zinke recommended that President Trump reduce the area of four national monuments, including Bears Ears in Utah, according to a leaked memo obtained by the Washington Post.