Moody’s senior analyst Janice Hofferber filed an analyst note published by Market Watch, suggesting that the consumer goods giant is finally turning the corner after a tough year.
Hofferber said that the upgrade had been implemented because of P&G’s “very strong consumer brands, with broad product and geographic diversity, significant brand equity and leading market shares in multiple product categories, as well as a demonstrated track record of ongoing product innovation,”
P&G recently posted first quarter sales that were ahead of expectations, at $19.8bn. Although this figure was down six percent on the corresponding period last year, it was largely impacted by unfavorable currency translations.