Moody’s changes Flavors to negative

Moody's Investors Service said it affirmed all ratings for Flavors Holdings Inc. and changed its outlook to negative from stable.

The agency cited financial performance below its expectations and weak liquidity as reasons for the change in outlook.

“Flavors' revenue continues to decline and its new Whole Earth Sweetener Company subsidiary has yet to generate any meaningful revenue and has negative earnings. Funding for the development and marketing of Whole Earth Sweetener Company's new natural sweetener products has caused liquidity to decline,” Moody’s said in a news release.

“The negative outlook reflects Moody's expectation that liquidity will remain weak and that the company will not meet its financial leverage covenant in the first quarter of 2018.”

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