Moody's Keeps Coty at Ba1 but Shifts Outlook to Negative
Moody's has affirmed Coty Inc.'s Ba1 corporate family rating but moved the outlook from stable to negative after the beauty company reported weaker-than-anticipated operating performance. While Moody's highlighted Coty's ability to generate free cash flow and potential interest-cost relief from debt paydown tied to the Wella sale, the rating agency…