[Lee Stewart]

Why some of America's best-known companies won't qualify for bailout money

Already, more than half of companies that borrow through corporate bond markets aren’t eligible to get help from the Fed under its current rules.

Macy’s and Gap Inc. are furloughing most of their workers as their sales collapse — but they might not qualify for the massive backstop for companies that Congress just passed because their finances are so bad that their debt is rated as junk.

The two iconic retailers and other companies running out of cash can’t tap into the new loan program backed by the Federal Reserve because it’s only available to corporations whose debt is considered safe by credit rating firms.

https://www.msn.com/en-us/money/comp...cid=spartandhp