Moody's lowers Alstom to Baa3

Moody's Investors Service said it downgraded the senior unsecured long-term ratings of Alstom to Baa3 from Baa2 and the short-term rating to Prime-3 from Prime-2.

The outlook was changed to stable.

"We have downgraded Alstom's rating to Baa3 because the company has not been able to achieve our expectations for leverage reduction and there will be limited improvements in its credit metrics over the next 12-18 months," Roberto Pozzi, Moody's vice president, senior analyst and lead analyst for Alstom, said in a news release.

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