With Best Buy's bond ratings being lowered recently, this will have a short term impact on their ability to borrow, increasing borrowing costs during the holiday season and perhaps beyond. Even though Circuit City has filed for banruptcy protection, Best Buy will have a very tough time with holiday sales this season. The consumer is out of money and has not easy access to cheap credit anymore. These factors cause me to have a bearish outlook on Best Buy for the next several quarters. They will most likely survive, but it won't be pretty from a stock perspective.
$19.02 (11/21/08)
