|
Quotes & Info
|
| LEG > SEC Filings for LEG > Form 8-K on 17-Aug-2009 | All Recent SEC Filings |
17-Aug-2009
Other Events
On August 13, 2009 Moody's Investors Service downgraded our long-term debt rating from "A3" to "Baa1", affirmed our commercial paper rating at "P-2", and assigned a "Stable" rating outlook. Moody's stated that the downgrade reflects continued weakness in discretionary consumer spending, notably in residential and automotive, and Moody's expectation of the impact on our cash flow for the foreseeable future. Currently, Standard & Poor's Ratings Services rates our long-term corporate credit and senior unsecured debt "A-" and our short-term and commercial paper "A-2", with a negative rating outlook.
These credit ratings reflect the views of the rating agency only. An explanation of the significance of these ratings may be obtained from the rating agency. These ratings are not a recommendation to buy, sell or hold securities. Any rating can be revised upward or downward or withdrawn at any time by a rating agency if it decides that the circumstances warrant the change. Each rating agency may have different criteria for evaluating company risk and, therefore, each rating should be evaluated separately.
|
|