Saks downgraded as S&P flags risk of default amid 600m dollar rescue deal
Saks Fifth Avenue, the storied American luxury department store, has seen its credit rating slashed to near-default levels by S&P Global Ratings. There are growing concerns about the company’s financial health and its ability to meet obligations to creditors, including fashion brands and suppliers still awaiting payment. S&P downgraded Saks’...
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