Moody's: Church & Dwight acquisition is negative

Moody's Investors Service said that Church & Dwight Co. Inc.'s announcement that it would acquire Avid Health Inc. for $650 million is a modest credit negative.

The company's Baa2 senior unsecured and Prime-2 short-term ratings remain unaffected despite the sizable debt-financed acquisition as Church & Dwight has sufficient financial capacity to increase its leverage and remain within acceptable ranges for its rating, Moody's said.

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