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S&P downgrades RadioShack
Standard & Poor's said it lowered the corporate credit and senior unsecured debt ratings on RadioShack Corp. to BB- from BB.
The outlook is stable.
The recovery rating remains 4, indicating 30% to 50% expected recovery in a default.
The downgrade reflects the company's weak operating and financial performance over the past few quarters, S&P said.
The downgrade also considers a belief that all segments of the company's business will remain under margin pressure, the agency said.
Credit metrics are not expected to return to prior levels in the near term, S&P said.
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