Moody’s downgrades Starbucks credit rating

SEATTLE Starbucks Corp.’s credit rating was downgraded late Wednesday by ratings agency Moody’s Investor Services because of the coffeehouse company’s weaker performance and increased competitive pressures.

New York-based Moody’s lowered the rating of Starbucks’ $550 million senior unsecured notes one notch to Baa3, from Baa2. It also lowered the company’s short-term commercial paper rating. A general Baa rating is one that holds “moderate credit risk,”

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