Moody’s lowers Maytag outlook

Moody’s lowers Maytag outlook, keeps Newton’s bond rating high
 
Date August 13, 2004
Section(s) Business
Brief  
 
By Daily News staff

Moody’s Investors Service lowered its outlook for Maytag Thursday, dropping the company from a “stable” rating to “negative.”

The company cited Maytag‘s lower second quarter results for the move.

“Recent weak performance at Maytag‘s floor care business — Hoover — is likely to remain a major challenge as Asian imports continue to gain more influence in the U.S. market,” Moody’s said.

Meanwhile, Moody’s kept its bond rating for the City of Newton at A1, City Administrator Dave Schornack said.

“We can’t do any better than that,” he wrote in his weekly administrator’s report.

“Moody’s was very impressed with what the City Council and staff had done to address the reduction in state aids.”

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