Moody's reviews Carmeuse

Moody's Investors Services said it placed Carmeuse Holding SA's Ba2 corporate family and probability-of-default ratings and Calcipar SA's Ba2 senior unsecured notes rating (LGD4) under review for downgrade.

Moody's said the review was prompted by Carmeuse's decision not to proceed, as anticipated and factored in ratings, with the disposal of non-core activities acquired as part of the acquisition of Oglebay Norton.

The agency noted that the group's operating performance during the first half has been in line with expectations and that Carmeuse remains confident they will achieve their budget for the full fiscal year.

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