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Moody's Investors Service ("Moody's") today confirmed the B1 Corporate Family Rating (CFR) and the B1-PD Probability of Default Rating of Energizer Holdings, Inc. ("Energizer"). Moody's also confirmed the Ba1 (LGD 1) rating on the company's $1.6 billion senior secured credit facilities. Moody's also today confirmed the rating on the company's $600 million unsecured global notes at B2 (LGD 4), the rating on the $500 million unsecured global notes at B2 (LGD 4), and the rating on the E650 million bonds issued by Energizer Gamma Acquisition B.V. at B2 (LGD 4).
Moody's Investors Service ("Moody's") today placed the ratings for Energizer Holdings, Inc. ("Energizer") under review for downgrade. This follows Energizer's announced $1.25 billion largely debt financed acquisition of Spectrum Brands' auto care business.
Moody's Investors Service ("Moody's") affirmed the ratings of Spectrum Brands, Inc. ("Spectrum"), including the B1 Corporate Family Rating (CFR) and B1-PD Probability of Default Rating (PDR). This follows the merger between HRG Group, Inc. ("HRG") and Spectrum Brands, Inc. HRG's B2 CFR, B2-PD Probability of Default Rating and speculative grade liquidity (SGL) ratings will be withdrawn.
Spectrum Brands (SPB) completes the merger deal with HRG Group. This, in turn, is likely to strengthen Spectrum Brands' shareholder base and governance structure.
I happened to read a May 4 article discussing the reasons why Bed Bath & Beyond Inc. (NASDAQ:BBBY) lost 17% of its value in the month of April — BBBY hasn’t had a positive annual return since 2013 — and it got me thinking about other potential stocks to buy that lost ground last month.