Results tagged “moodys”

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.

Wall Street is a terrific place. If we wanted to be worth more money in desperate circumstances, we'd probably have to come up with more than a rumor. But not when it comes to the stock market.