The ratings agency issued a negative outlook for KSS while affirming its BBB- issuer crediting rating for the retailer, and removing it from Credit Watch where it was placed with negative implications in June. The outlook is based on risk of a downgrade in the 24 months if performance does not stabilize, and assumes Kohl’s will balances shareholder returns with operational plans to maintain leverage in the mid-2X range while returning to growth. S&P noted Kohl’s bounce back in 2021 has been followed by slashed 2022 guidance and commitment ... Log in to view full article.