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Issuers
US retailer suffers two notch downgrade
Thursday, January 5, 2012
US retailing group Sears suffered a two notch downgrade of its corporate family rating from B1 to B3 at the hands of Moody’s yesterday, leaving it on negative outlook.
Continuing poor operating results and reliance on credit facilities led to the downgrade as Sears has posted a decline in comparable sales every year since merging with Kmart in 2005.
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Trading
Funds
Structured
CFlux secondary
CLO index levels:
| Index | 21 May |
|
| CFlux USD AAA | ↑ | 96.2 |
| CFlux USD AA | ↑ |
88.3 |
| CFlux USD A | ↓ | 84.1 |
| CFlux USD BBB | ↓ | 75.3 |
| CFlux USD BB | ↓ |
74.1 |
| CFlux USD EQ | ↑ | 77.5 |
