Reuters

01.06
2010

Anti-bribery act could weigh on corp ratings: Fitch

(Reuters) - Violations of the Foreign Corrupt Practices Act could weigh on ratings of U.S. companies, as fines, penalties and investigations absorb cash and distract management, Fitch Ratings said on Tuesday.

In April alone three Fitch-rated companies, Avon Products Inc, Hewlett-Packard Co and BHP Billiton, were in the news because of FCPA-related actions, and enforcement activity is set to increase, Fitch said in a report.