TEXT-Moody's cuts Veyance to B3, may cut further

Newswire

(The following statement was released by the rating agency) Approximately $1.2 billion of debt affected Feb 27 - Moody's Investors Service lowered the ratings of Veyance Technologies, Inc. ("Veyance") -- Corporate Family and Probability of Default Ratings to B3 from B2. Veyance's ratings remain under review for possible downgrade. The downgrade reflects Moody's expectation of erosion in Veyance's credit metrics due to deterioration in most of the company's end markets. The industrial and ...

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