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    Monday, November 23, 2009

    S&P Downgrades Foot Locker To 'B+'; Outlook Stable

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    By Sue Chang
    MarketWatch Pulse
       

      SAN FRANCISCO -- Standard & Poor's Ratings Services on Monday lowered Foot Locker Inc.'s corporate credit rating to B+ from BB-. "The downgrade reflects the moderate operational challenges due to persistent negative same-store sales and decline in the company's credit protection measures," said David Kuntz, an S&P credit analyst. The ratings agency noted that the company is likely to experience "ongoing performance difficulty" over the near term. The outlook is stable.

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