Tandy Corp has fallen foul of Moody’s Investors Service Inc, which has downgraded the long-term debt ratings of Tandy Corp and its wholly owned unit Tandy Credit Corp to A3 from A2 and the short-term commercial paper rating to Prime-2 from Prime-1. About $900m of debt is affected. Moody’s said the downgrade reflected its belief that the profit margins of Tandy’s core businesses will remain under pressure even after the recession because of intensifying price competition in personal computers and weak worldwide demand for consumer electronics.
Content from our partners
