This story was originally published on Retail Dive. To receive daily news and insights, subscribe to our free daily Retail Dive newsletter. Dive Brief: S&P Global Ratings Wednesday downgraded Saks Global because the luxury department store conglomerate defaulted on a debt payment due Dec. 30. Its issuer credit rating on Saks Global is now “selective default,” down from CCC. The analysts don’t believe the company will make the payment within its 30-day grace period because of its liquidity issues, acco ...