Fitch Ratings has downgraded Masco Corporation'sratings, including the company's Issuer Default Rating to 'BB' from 'BB+'. The Rating Outlook is Stable.
Faruqi & Faruqi, LLP, a national law firm concentrating on investor rights, consumer rights and enforcement of federal antitrust laws, is investigating potential wrongdoing at Masco Corporation.
Cabinets giant Masco sold out a $400 million debt offering this week. Separately, the firm is the being targeted by a New York law firm seeking investors to join a 'rights action' over what it deems to be excessive executive compensation.
La-Z-Boy Inc. will partner with Kuka Home, one of China's largest furniture producers and retailers, for distribution and manufacture of La-Z-Boy recliners and motion furniture in China.The deal includes U.S.-made furniture to ship to China.