Adidas has its debt rating slashed by S&P as termination of Kanye West partnership batters earnings

• S&P Global Ratings said Tuesday that it thinks Adidas will find it harder to repay its debts.
• The sportswear giant has warned it'll lose $1.3 billion from the end of its Yeezy partnership.
• Adidas terminated its deal with Kanye West in October after repeated anti-semitic comments.

S&P Global Ratings has cut its long- and short-term credit ratings for Adidas after the German sportswear giant warned that the end of its partnership with Kanye West is likely to hammer earnings.