By Matt Tracy

WASHINGTON (Reuters) -Credit rating agency Moody’s Ratings has downgraded several of global footwear and apparel retailer Nike’s debt ratings.

In downgrading Nike’s senior unsecured debt by one notch on Wednesday, Moody’s analysts cited cost pressures from higher tariffs among other factors in the agency’s decision.

The rating agency simultaneously shifted its outlook on Nike’s still high-grade ratings from negative to stable.

Nike has experienced stagnant financial performance recently as newer brands such as On and Hoka have chipped away at the sportswear juggernaut’s market share.

The company’s revenue slipped by 10% in its fiscal 2025, while its earnings before interest and taxes declined 42%, according to Moody’s. It has revamped its product lineups while clearing o

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