IN BRIEF

A WIDENING GAP: Moody’s Investors Service on Monday lowered by two notches — to Baa2 from A3 — Gap Inc.’s debt rating for its senior unsecured notes and floating rate notes, Eurobonds and senior notes based on “a continued lack of momentum in comparable-store sales across all three brands in a highly promotion retail environment and the resulting and continuing deterioration in the company’s operating profitability.”