Business
Macy's downgraded to junk status
S&P Global Ratings has downgraded Macy's to junk status saying the department store is falling on the wrong side of the change in consumer preferences. The news was reported by Bloomberg. S&P lowered Macy's credit rating from BB+ to BBB- due to Macy's excess stores. Macy's shares were down yesterday by 4 percent upon S&P's announcement. S&P says...
loading...
