Moody’s could lower Danone

Moody's Investors Service said it placed Danone SA's A3 senior unsecured ratings and the provisional A3 senior unsecured rating on the euro medium-term note program issued by Danone and Danone Finance SA under review for downgrade.

"The review for downgrade follows the company's announcement last week of its intention to keep on investing in its core activities which will imply what Moody's perceives as a more aggressive financial policy," Paolo Leschiutta, Moody's vice president, senior credit officer and lead analyst for Danone, said in a news release.

"Our review will assess the expected trajectory of Danone's credit metrics in light of the higher amount of debt than previously anticipated by Moody's and in light of the current softer trading environment."

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