30Jul2010

A&P Seen Teetering on Financial Edge

Bloomberg News quotes Standard & Poor’s as saying that the Montvale, N.J.-based retailer “may be illiquid at some point in the near term.”

S&P issued its second downgrade on A&P in the past five weeks, to a corporate rating of CCC. Cash from operations reportedly isn’t covering interest expenses and capital expenditures. For the complete story, go to: http://www.northjersey.com/news/business/99526694_A_P_faces_illiquidity__S_P_says.html