Moodys Affirms Nike Ratings

Moodys Investors Service confirmed Nikes ratings at A1 for senior unsecured medium term notes and Prime-1 for commercial paper and updated its rating outlook to negative following the companys announcement of fourth-quarter charges of $125-$175 million. While Nikes leading market share, strong brand name, and historical profitability are supportive of the current ratings, softness in the US and Asian footwear markets and actions to restructure operations could exert downward pressure on the ratings, Moodys said.