S&P cuts Furniture Brands rating 3 notches
June 24th, 2007 Category FurnitureStandard & Poor’s Ratings Services cut the corporate credit rating of Clayton-based Furniture Brands International Inc. three notches, dropping it below investment grade.
The international credit rating group slashed the rating on the seller of Lane and Broyhill furniture to BB— from BBB— and said the rating may fall further because of a weak retail environment and credit protection measures below S&P’s expectations.
