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IT WAS A company revered by business-school gurus and investors alike. British consumers cherished it for its value-for-money clothing. Its own-brand biscuits were unrivalled. But the glory days of Marks & Spencer are long gone. As if to underscore this, it recently became a "fallen angel": its bonds were demoted to speculative-grade (or "junk") status by S&P, a rating agency. Many other once-admired companies have been similarly humbled. Ford, Renault and Kraft Heinz are among the bigger angels to have fallen in recent months.
机译:这是一家由商务学校大师和投资者尊敬的公司。英国消费者珍惜它的价值衣服。它自己的品牌饼干无与伦比。但标记和斯宾塞的辉煌日子已经过去了。仿佛下划线,它最近成为一个“堕落的天使”:其债券被评定机构的标准普尔降级为投机级(或“垃圾”)状态。许多曾经令人欣赏的公司已经类似地谦卑。福特,雷诺和牛皮纸近几个月才陷入较大的天使之一。

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    《The economist》 |2020年第9202期|61-61|共1页
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