Moody’s might lower Energizer

Moody's Investors Service said it placed the ratings for Energizer Holdings, Inc. under review for downgrade.

The agency said the action follows Energizer's announced $1.25 billion largely debt financed acquisition of Spectrum Brands' auto care business.

Moody's said it current review will focus on the strategic fit of the Spectrum auto care business with Energizer's existing business, as well as the incremental integration risk it creates following the planned battery business acquisition.

The agency said it will also need to better understand any divestitures Energizer will need to make in order to win approval of the battery acquisition.

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