Saks Global’s Liquidity Woes Put Credit Rating at Risk
Standard & Poor’s has Saks Global under the credit microscope. The debt watchdog put the luxury retailer’s “CCC-plus” rating on creditwatch negative due to the company’s “less-than-adequate liquidity” as well as “the uncertainty of how the company will remedy its current liquidity position.” S&P said the company’s finances will “likely lead to additional challenges in…