Sears (SHLD) drops slightly AH after S&P lowers its debt rating by two notches, to CCC+ from B. The ratings agency says the downgrade "reflects our projection that Sears’ EBITDA will be negative in 2012," and cautions "liquidity could be constrained in 2013 absent a turnaround or substantial asset sales." Last week, Sears warned of weak Q4 results and announced numerous store closures..
Sears (SHLD has resistance level is $34 and support level is $27.
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