Credit Quality Of Consumer Goods Firms To Be Eroded This Year, Says Moody's
The credit quality of the world's leading consumer goods firms is likely to be eroded this year due to the continued effects of the coronavirus pandemic, however recovery is likely next year, according to Moody's.
In a new report, Credit quality to deteriorate marginally in 2020, with recovery in 2021, Moody's said that major firms that are exposed to 'non-essential' product categories such as beauty and cosmetics, as well as out-of-home consumption and travel retail, are likely to see the biggest erosion of demand and profits this year.
This includes firms like LVMH Moet Hennessy Louis Vuitton, L'Oréal, Kerry Group, and Froneri International Limited, it said.
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