Bruce Berkowitz Lends A Shoulder To Sears Holdings Corp (SHLD)

Recent notes from Fitch Ratings and Credit Suisse analyst Gary Balter underscored troubled retailer Sears Holdings Corp (NASDAQ:SHLD)’s precarious cash situation. Last week Fitch Ratings down-graded Sears’ long-term Issuer Default Ratings to ‘CC’ from ‘CCC.’ The action reflected concerns regarding its falling profitability and liquidity problems given that the possibility of a turnaround appears unclear and remote. Sears Holdings Corp (SHLD) needs a lot of cash…fast “Sears needs to generate a minimum EBITDA of $1 billion annually between 2014 through 2016 to service cash interest expense, capex and pension plan contributions,” said the ratings agency. “Given Fitch’s projections for EBITDA to…