RETAILING
Times Staff and Wire Reports
Moody’s Cuts Kmart Debt Cut to Junk Status: Moody’s Investors Service cited the discount retailer’s lessened financial flexibility and the challenge it faces in retrenching in a difficult retail environment. The change involves $6.8 billion in debt. Standard & Poor’s Corp. and Duff & Phelps have also cut Troy, Mich.-based Kmart Corp.’s debt to junk status.
