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Moody's downgrades Weight Watchers, outlook negative

  • Weight Watchers International (WTW -0.4%) sees its corporate family rating cut to Ba2 (Negative) at Moody's.
  • The company "has been seemingly slow to react to accelerating declines in meeting attendance and growing competition from Internet-based calorie counting services," the ratings agency says.
  • Moody's is also concerned about the company's debt-to-income ratios, which analyst Edmond DeForest thinks could rise if revenue, profits, and free cash flow continue to decline. Revenue and GAAP net income fell 4% and 16.2% respectively in Q2.
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