Moody's downgrades Sears' PDR to D-PD following bankruptcy filing
Moody's Investors Service ("Moody's") today downgraded Sears Holdings Corp.'s ("Sears") Probability of Default Rating ("PDR") to D-PD from Ca-PD due to the company's October 15, 2018 announcement that it was filing for protection under Chapter 11 of the US Bankruptc...Sears Holdings is the parent company of Kmart Holding Corporation (Kmart) and Sears, Roebuck and the company (Sears). The company has two segments: Kmart, which includes stores that are mainly free-standing units that carry a range of products, including consumer electronics, seasonal merchandise, outdoor living, toys, lawn and garden equipment, food and consumables and apparel; and Sears Domestic, which includes its full-line stores, specialty stores, commercial sales and home services. The company operates a number of websites under the sears.com and kmart.com banners which provide products and the capability for its members and customers to engage in cross-channel transactions.
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