Nordy's Gets No Credit from Moody's

A lot of courteous people in nice suits downtown are feeling a bit tense today; Moody's Investor Service has downgraded its rating of Nordstrom's from "stable" to "negative." That's a rating of Nordstrom's creditworthiness, and isn't all that surprising considering Nordy's themselves anticipate 16 percent less sales this holiday season than last. We're going to bet that that number turns out to be optimistic. Especially since even Baby Jesus can't save them now.