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11.09.2013 21:29:00
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Moody's: Some US consumer durables "fallen angels" could be rising
New York, September 11, 2013 -- US consumer durables companies Mohawk and Steelcase could be the first of the industry's "fallen angels" to regain their investment-grade ratings in the wake of the financial crisis, Moody's Investors Service says in a new report, "Fallen Angels' Could Rise Thanks to Improving Economy and Cost-Cutting." Prior to 2008 eight consumer durable companies had investment grade ratings, but by August 2009 four had dropped to speculative grade. Mohawk is a flooring company and Steelcase manufactures office furniture.
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