The ratings agency believes CAL will be able to maintain its adjusted leverage in the low- to mid-2x range helped by stabilizing margins despite weaker revenue growth this year. As a result, S&P raised its issuer credit rating on Caleres to BB- from B+ and revised its outlook on the company to stable from positive. Consumer demand is expected to remain depressed this year, but lower freight costs and CAL’s cost cutting ... Log in to view full article.