Foot Locker Downgraded by S&P Global
Big Foot’s issuer credit rating and rating on its senior unsecured notes were lowered to BB- from BB by the ratings agency due to continued pressure on EBITDA margins caused by promotions and a weak consumer environment. However, S&P gave FL a stable outlook, believing that the Lace Up turnaround plan will result in improved operating margins and cash flow over the next year. Competing with Nike’s DTC clearance efforts ... Log in to view full article.
