The Wall Street Journal-20080114-In Brief
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In Brief
Nestle Sells Burger King
On 'Eco-Shape' Bottle
Burger King Holdings Inc. said its U.S. locations will switch their bottled-water offering to Nestle SA's Pure Life from PepsiCo Inc.'s Aquafina. The hamburger chain was attracted to Pure Life's new "eco- shape" bottle, according to Keva Silversmith, a Burger King spokesman. Aside from being "environmentally friendly," its curved shape is more easily carried by Burger King's "on-the-go customers," he said. According to Nestle's Web site, its bottle uses 30% less plastic than others of the same size. Aquafina water has been available at Burger King restaurants since January 2003, the company said.
-- Reuters
McClatchy Credit Rating
Is Lowered by Moody's
The credit rating of newspaper publisher McClatchy Co. was lowered further into junk territory on Friday by Moody's Investors Service, which said it expects 2008 revenue to be weaker than previously forecast. The ratings agency cut its corporate family rating to Ba2 from Ba1, the firm's highest speculative-grade rating. Moody's began reviewing the rating two months ago after the company recorded a third-quarter charge of $1.37 billion to reflect the poor conditions in the newspaper business and its falling share price. Moody's kept McClatchy's rating outlook at "negative."
