Panavision Inc

Panavision Inc., a movie camera maker controlled by billionaire Ronald Perelman, canceled a $200-million bond sale because it couldn't find enough buyers for the debt. The Woodland Hills-based company also said it put off a plan to replace its existing bank-credit agreement. Panavision had planned to use proceeds from the note sale and funds from the new bank line to pay off existing bank debt and its 9.63% notes maturing in 2006.

PepsiCo Inc. and Rite Aid Corp. led companies that had credit ratings raised this year, pushing the ratio of upgrades to downgrades to the highest since 1998 in the first quarter, Moody's Investors Service said Tuesday. About 67 U.S. companies had credit ratings increased in the first quarter, the most since the fourth quarter of 2001, while 90 companies had ratings reduced, the fewest since the third quarter of 1998, when Moody's cut ratings of 74 companies.

Nvidia Corp., the best performer in the Nasdaq 100 index this year, said fiscal third-quarter profit rose 59% as the maker of chips that enhance computer graphics took market share from rival ATI Technologies Inc. Net income rose to $44.7 million, or 26 cents a share, from $28.1 million, or 17 cents, a year earlier. Revenue in the period ended Oct.28 rose 87% to $370.2 million from $198.2million, the firm said. Santa Clara, Calif.

Troubled credit card issuer Providian Financial Corp. said Monday that it expected to eliminate 2,600 more jobs as a new management team continues to dig out from loan losses that nearly buried the company last year. The plan was revealed after the San Francisco firm reported a first-quarter profit of $10 million, or 3 cents a share, a 96% drop from $230.5 million, or 81 cents, a year earlier.