Macy’s Upgraded to BB by S&P
US department store Macy’s was upgraded to BB from BB- by S&P. Its second-lien debt was upped to BBB- from BB+ and on its unsecured notes to BB from BB-. Macy’s reported strong operating results and reduced leverage during its Q4 update. Adjusted...
Macy’s Upgraded to Investment Grade Rating of BBB- from BB+ by Fitch
Macy’s was upgraded to investment grade by Fitch, making it a rising star. It was upgraded to BBB- from BB+ with a stable outlook. The upgrade reflects Macy’s strong topline trajectory which Fitch notes, points to evidence of “successful...
Macy’s Urged by Activist Jana Partners to Separate E-Commerce Business
American retail major Macy’s is reportedly being urged by activist investor Jana Partners to spin-off its e-commerce business to get a higher valuation from the separate entity. Jana puts Macy’s online business at a valuation of $14bn if it does go ahead...
