Bloomberg carried this brief report on Sotheby’s debt rating from Standard & Poor’s. The ratings agency gave the firm a positive outlook even if its holding off on raising the company’s ratings:
S&P cited Sotheby’s “recent substantial improvement in operating performance” and expectations “for near-term sales and profit growth.” Sotheby’s BB- (“junk”) rating remained unchanged and is below investment-grade.
S&P Raises Sotheby’s Outlook to Positive, Junk Rating Unchanged (Bloomberg)