Shares of Bed Bath and Beyond Are Dropping After a Credit Downgrade
Shares of Bed Bath and Beyond (NASDAQ: BBBY) were moving lower on Monday, after Standard & Poor's cut the company's credit rating to deep-junk levels.
As of noon EDT today, Bed Bath and Beyond's shares were down about 8.6% from Friday's closing price.
In a note released on Friday afternoon, S&P cut Bed Bath and Beyond's credit rating from BB to B+, a two-notch downgrade that puts the company's debt deeply into speculative (or junk) territory.
Source Fool.com
