Moody's says 3M Aearo Technologies plans are credit negative, but channeling injunction process will reduce uncertainty
Moody's Investors Service ("Moody's") commented that 3M Company's ("3M") wholly-owned subsidiary Aearo Technologies' ("Aearo") Chapter 11 filing related to product litigation is credit negative. This is due to management's commitment to provide $1 billion to fund the trust to be created to settle cl...3M is a technology company. The company has four segments: Safety and Industrial, which consists of personal safety, industrial adhesives and tapes, abrasives, closure and masking systems, electrical markets, automotive aftermarket, and roofing granules; Transportation and Electronics, which consists of electronics, automotive and aerospace, commercial solutions, advanced materials, and transportation safety; Health Care, which includes medical solutions, oral care, separation and purification sciences, health information systems, drug delivery systems, and food safety; and Consumer, which consists of home improvement, stationery and office supplies, home care, and consumer health care.
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