Moody's confirms Duerr

Moody's Investors Service said it confirmed Duerr's B1 corporate family rating and B3 bond rating. This concludes a review that began in February.

The outlook is negative.

The negative outlook reflects the ongoing uncertainty around the development of order intake and a concern that cash flow generation could materially deteriorate in 2009 if orders were not to pick-up again, Moody's said.

The ratings continue to reflect an expectation of continued support by Duerr's core lenders as evidenced in April 2009 when they agreed to an amendment of financial covenants creating additional headroom, the agency said, and is based on the assumption of a material improvement in order inflow near term.

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