MUMBAI (Thomson Financial) - Moody's Investors Service said it downgraded
the outlook on consumer and commercial products manufacturer Newell Rubbermaid
Inc. to negative from stable reflecting a downward revision in 2008 guidance and
continued raw materials price pressure.
The ratings agency said it affirmed the company's senior unsecured long term
debt rating at 'Baa2'
Moody's said however, the company's ratings continue to benefit from a
broad, diverse product line and retailer diversity.
Moody's said Newell is well-represented at the largest retailers in North
America with discounters such as Wal-Mart and Target, big-box home improvement
retailers such as Home Depot and Lowe's, and the office supply superstores
stocking a broad array of its products.
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