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Research Update: Sears Holdings Corp. 'B' Rating Placed On CreditWatch Negative Dec 11 Product Image

Research Update: Sears Holdings Corp. 'B' Rating Placed On CreditWatch Negative Dec 11

  • ID: 2035132
  • December 2011
  • Standard & Poors

Abstract
Hoffman Estates, Ill.-based Sears Holding Corp. announced that EBITDA will be less than half of its prior year's amount. We believe that a meaningful erosion of both its sales and EBITDA margins will result in a further weakening of the company's credit protection measures. We are placing the 'B' long-term rating on the company, along with all related issue-level ratings on the company's debt, on CreditWatch with negative implications. The CreditWatch placement reflects the likelihood of a downgrade if the company cannot improve its liquidity position and operating performance. On Dec. 28, 2011, Standard & Poor's Ratings Services placed its 'B' long-term corporate credit rating on Sears Holdings Corp., along with all related issue-level ratings on the company's debt, on...

Companies mentioned in this report are: Sears Holdings Corp.,Sears, Roebuck and Co.,Sears Roebuck Acceptance Corp.,Sears DC Corp.,Sears Canada Inc.
Action: On CreditWatch:Negative

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. READ MORE >

Sears Holdings Corp.,Sears, Roebuck and Co.,Sears Roebuck Acceptance Corp.,Sears DC Corp.,Sears Canada Inc.

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