Safeway Inc.'s shares dropped Monday after a Credit Suisse analyst downgraded his rating on the grocery chain, saying it may have a larger-than-expected underfunded liability tied to itspension plans that could cause its costs to rise over time.
THE SPARK: Credit Suisse analyst Edward Kelly said that his firm's analysis of Safeway's multi-employer pension plans found a $7 billion pre-tax underfunded liability.
Copyright 2016 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.