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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Travis_Bickle who wrote (169896)	12/8/2008 7:44:39 PM
From: DebtBomb	Respond to of 306849

Moody's reviews Sears' rating for possible cut Monday December 8, 3:52 pm ET Moody's reviews Sears Holdings' 'Ba1' corporate family rating for possible downgrade NEW YORK (AP) -- Moody's Investors Service said Monday it placed Sears Holdings Corp.'s "Ba1" corporate family rating and its "Ba1" probability of default rating on review for possible downgrade, expecting its credit to deteriorate this year and next. "If credit metrics for the fiscal year continue to deteriorate, ratings could be downgraded," said Charlie O'Shea, a senior analyst with Moody's. Moody's said Sears is suffering from overall economic weakness and the lack of a "coherent" softlines strategy to help ease pressure on its hardlines business. Moody's said its review will focus on how well the company does in the fourth quarter. Last week, Sears posted its biggest quarterly loss since financier Edward Lampert combined Sears and Kmart into one retail company. The company blamed its third-quarter miss mostly on hefty charges to close stores and disappointing domestic sales. Sears also withdrew its operating profit outlook because of lingering economic woes. Shares of Sears added 5 cents to $46.77 in afternoon trading. biz.yahoo.com