We don’t know exactly what “junk territory” means out on “the street” but we’re guessing this probably isn’t good news.
Moody’s downgraded retailer Quiksilver Inc. deeper into junk territory Thursday, saying the chain’s weak fourth-quarter performance and reliance on short-term debt makes it especially vulnerable as consumers cut spending.
Then again we always remember what Bob McKnight’s once said: “Analysts: there’s only one letter separating them from what they really are.”
[Link: MSNBC.com]
