Moody's could cut Alstom

Moody's Investors Service said it placed Alstom's Baa1 issuer and senior unsecured ratings on review for possible downgrade. Concurrently, Moody's has affirmed the company's P-2 short-term rating.

"The placement of the Baa1 rating under review primarily reflects Alstom's continued negative working capital changes, which have driven a decline in the group's net cash balance of almost €1.4 billion for the first six months ended Sept. 31," Alex Verbov, Moody's lead analyst for Alstom, said in a news release.

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