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Moody's downgrades Alcatel-Lucent to B3

Wednesday 5 December 2012 | 10:03 CET | News
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Moody's has downgraded Alcatel-Lucent's rating from B2 to B3 and its senior debt rating by one level to Caa1, citing expectations that the company will not be able to reduce its adjusted cash consumption this year materially below the EUR 620 million reported in 2011. Moody's said that "The negative outlook on Alcatel-Lucent's rating reflects the company's ongoing cash burn relative to its substantial, but finite, liquidity. With an outlook for declining sales in 2012, Moody's considers that Alcatel-Lucent's management will be challenged to cut costs fast enough to curb cash consumption and

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Categories: General
Companies: Alcatel-Lucent USA/FR
Countries: World
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