Moody's: EMCOR cut to stable

Moody's Investors Service said it affirmed the ratings of EMCOR Group Inc., however, the outlook has been changed from positive to stable due to the continued weak operating results registered over the last several quarters.

Moody's affirmed EMCOR's Ba1 senior implied rating, Ba2 senior unsecured issuer rating and prospective Ba1 senior and prospective Ba3 subordinated $61 million shelf registration.

Moody's said the change in outlook from positive to stable reflects the carryover of the company's lackluster financial performance in 2003 into 2004.

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