PetSmart Lowered on Failed Refinancing, Looming Maturities
On November 6, 2020, S&P Global Ratings lowered its issuer credit rating on PetSmart, Inc. to B- from B and kept its B rating on the Company's existing secured debt and its CCC+ rating on its existing senior unsecured debt. The downgrade follows the Company's unsuccessful attempt to complete a holistic refinancing of its capital…