Verifone ratings on review for possible downgrade on accounting errors - Moody's |
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Published
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Thu, 06 Dec 2007 06:44
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MUMBAI (Thomson Financial) - Moody's Investors Service said it has placed the 'B1' corporate family rating and the senior secured debt ratings of Verifone Inc under review for possible downgrade following the company's announcement it will restate financial statements for the first three quarters of 2007, due to accounting errors associated with its valuation of inventories.In addition, Verifone also said it will delay announcement of its fourth quarter results.Moody's said the review reflects the uncertainty surrounding the possible financial restatements, indicating the weaknesses in the company's disclosure and internal control over financial reporting, as well as the potential impact on its liquidity position.TFN.newsdesk@thomson.comrsh/manCOPYRIGHTCopyright Thomson Financial News Limited 2007. All rights reserved.The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
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SP Ausnet ratings still on review for downgrade - Moody's 