- The outlook change to negative reflects Moody's expectation for weaker operating performance and credit metrics as a result of the deteriorating macroeconomic environment, as weaker consumer spending will likely continue to pressure demand within its retail and foodservice end markets.
- The company's results will likely be further pressured in 2009 by ongoing pension payments and its very high interest burden, especially with interest on its senior subordinated secured PIK note turning cash pay in June 2009 with the first cash payment due in December 2009.

Other headlines for [LBY]

• AMSF 12/23/2008 05:31pm
  Amerisafe, Inc. To replace FirstFed Financial Corp (FED) in S&P SmallCap600- Also, Actuant Corp. (ATU) will replace BIOLASE Technology Inc. (BLTI), American Physicians Capital Inc. (ACAP) will replace Monaco Coach more...
  
• LBY 12/9/2008 04:30pm
  Libbey Inc. Cuts Q4 forecast: sees Rev to be "significantly below" previous guidance of $210M-$220M v $215Me- CEO: "The recent and dramatic slowdown in the foodservice and retail channels, weaknesses in the more...
  
• LBY 12/3/2008 04:00pm
  Libbey Inc. Outlook revised to Negative at Moody's- The outlook change to negative reflects Moody's expectation for weaker operating performance and credit metrics as a result of the deteriorating macroeconomic more...
  

Consumer staples sector headlines

• TSN Today 03:32pm
  Tyson Foods Inc Interim CEO: No major layoffs planned, poultry units wil be restructured- The company intends to select a new, permanent CEO as soon as possible and hopes the new leader can be identified from the more...
  
• CPWM Today 02:31pm
  Cost Plus Inc. Reports Dec SSS -4.3%; announces plans to close 26 stores- Expects pre tax impairment of $4M - will reduce home office and distribution center staff by 18% and will implement a number of additional more...
  
• CVS Today 12:39pm
  CVS Corp Hearing removed from Goldman Sachs conviction buy list (timing uncertain)
  
• DMND Today 09:08am
  Diamond Foods, Inc. Long Bow Research Raised DMND to Buy from Neutral, price target: $27
  
• CVS Today 08:49am
  CVS Corp CFO: Guides FY09 Rev growth of 10.5-12.5% - conf call- Guides Q1 Rev +8-10% - Puts 2009 CAPEX at $1-1.2B with free cash flow of approx $3.5B