Kohl's Debt Downgraded, Outlook Negative
Before the arrival of the novel coronavirus, retailer Kohl's Corporation (NYSE: KSS) was looking pretty healthy. With $691 million in profit earned last year, and free cash flow an even more robust $802 million, according to data from S&P Global Market Intelligence, Kohl's seemed well able to service its $6.1 billion in total debt, despite having only $723 million in cash on hand.
But the coronavirus is threatening this rosy scenario, warns credit rating agency Fitch Ratings.
Image source: Getty Images.
Source Fool.com
