(Source: Fitch Inc) 18 Nov 2015 5:35 PM GMT/UTC Fitch Ratings-New York-18 November 2015: Fitch Ratings has affirmed the long-term Issuer Default Ratings (IDR) on Sears Holdings Corporation (Holdings) and its various subsidiary entities (collectively, Sears) at 'CC'. A full list of rating actions follows at the end of this release. KEY RATING DRIVERS EBITDA Remains Materially Negative: Fitch expects Sears' EBITDA to be in the negative $600 million range in 2015 and potentially worse in 2016. Fitch expects a revenue decline of around 20% in 2015 due to estimated domestic comparable store sales (comps) of negative 10% and ongoing store closings. Fitch expects comps to be in the negative...
↧