S&P cuts RadioShack

Standard & Poor's said it lowered its corporate credit and senior unsecured debt ratings on RadioShack Corp. to B- from B+. The outlook is negative.

The recovery rating on the senior unsecured debt remains 4.

"The downgrade of RadioShack reflects our view that it will be very difficult for the company to improve its gross margin in the second half of the year, given the highly promotional nature of year-end holiday retailing in the wireless and consumer electronic categories," said S&P credit analyst Jayne Ross in a news release.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.