New York, April 21, 2014 -- Moody's Investors Service said the US Federal Trade Commission's (FTC) decision on April 17th to block the proposed merger between American Achievement Corporation (B3 stable) and Visant Corporation (B3 stable) due to concerns that the merger would be anti-competitive for the class ring industry is credit negative for American Achievement because it will not obtain the expected merger benefits and it will be forced to explore other strategic options.
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