Martedì, 23 Ottobre 2018

Italcementi cut to 'Ba2' from 'Ba1' by Moody's rating agency

English
© ANSA

(ANSA) – New York, November 15 - Moody's cut its rating on
Italian giant cement-maker Italcementi to 'Ba2' from 'Ba1', with
a negative outlook, according to a statement released on
Thursday by the ratings agency.
Moody's decision reflects the negative outlook that had
already been given to Italcement's stock a year ago and is based
on the now-consolidated negative outlook that has been given to
entire sector by the ratings agency, said Italcementi Chief
Financial Officer Giovanni Maggiora.
Maggiora said he believed Moody’s had not taken in recent
developments relating to the company’s future prospects relating
to new plans, adding that Italcementi had a solid financial
profile and additional efficiency-boosting plans that would
allow it to overcome the recession.

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