Nordstrom Inc. may quickly start its deliberate $500 million share repurchase program, a transfer that has potential to wreck the retailer’s credit score metrics and hamper its targets of returning to investment-grade rankings, in response to Bloomberg Intelligence analyst Mike Campellone.

The corporate completed the quarter ending April 30 with $1.three billion in obtainable liquidity after refinancing its revolving credit score settlement. Underneath phrases of the revolver, it could actually make limitless dividend funds or conduct share buybacks if its debt is beneath thrice a measure of earnings. At increased ranges, its choices for shareholder rewards are extra restricted, Campellone wrote in …