Fitch lowers RadioShack

Fitch Ratings said it downgraded its long-term issuer default rating for RadioShack Corp. to CCC from B-.

The downgrade reflects the significant decline in RadioShack's profitability, which has become progressively more pronounced over the past four quarters, Fitch said.

Results have been disappointing, due in particular to pressure on the company's mobility segment, leading to a marked deterioration in the company's credit profile, the agency said.

There is a lack of stability in the business and no apparent catalyst to stabilize or improve operations, Fitch added.

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