S&P Global downgraded Bass Pro and Cabela’s parent, Great Outdoors Group, to negative from stable, citing tariff uncertainty and a weaker-than-expected first quarter, which drove adjusted leverage over 5x. It affirmed the BB- issuer credit rating and other ratings for now. Potential tariffs could pressure profits further over the next 12 months, the ratings agency believes. Discretionary spending will remain relatively weak through the year, particularly among lower-income consumers, however sales will grow in the low-single ... Log in to view full article.