Moody's Investors Service placed $1.3 billion in debt of Venator Group Inc., formerly Woolworth Corp., on review Friday for a possible downgrade. The outlook comes on the heels of Venator's announcement Friday that it would close its Kinney Shoe and Footquarters retail stores. The ratings agency cited "uncertain prospects" for the athletic footwear industry, which it said could diminish revenues and growth for Venator's Foot Locker subsidiary.

New York-based Venator carries a rating of Baa3 on its senior unsecured debentures, senior notes, medium-term notes, and bank credit agreements.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.