S&P downgrades Fairway

Standard & Poor's Ratings Services has lowered its corporate credit rating on Fairway Group Holdings to 'CCC+' from 'B-', citing “persistent underperformance” and the possibility the company breaches loan covenants in coming months. The outlook is negative, S&P added.

According to S&P, a CCC rating indicates businesses that are “currently vulnerable and dependent on favorable business, financial and economi

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