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Article Date: September 2023
Word Count: 168

S&P Also Dings Foot Locker on Q2 Results


A week after Moody’s lowered Big Foot’s credit rating, S&P Global weighed in with a downgrade of its own, lowering its issuer credit rating on Foot Locker and issue-level rating on the company’s senior unsecured notes to BB from BB+. The outlook is negative, as S&P believes a combination of the soft retail environment and execution risks for FL’s turnaround strategy could continue to hurt operating performance. The ratings agency expects full-year revenues to fall ... Log in to view full article.

 


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