Following a downgrade by S&P Global earlier this month, Moody’s has now cut Kohl’s corporate family rating to Ba2 from Ba1 and lowered its other ratings by one notch, too. The outlook was changed to negative from stable, citing continued deterioration in credit metrics and poor operating performance. Moody’s-adjusted debt/EBITDA jumped to 5.7x at the end of 2022 from 2.4x a year earlier. The ratings agency thinks KSS’ profitability will remain “well below” historical ... Log in to view full article.