S&P downgrades Alstom

Standard & Poor's said it lowered the long-term corporate credit ratings on Alstom SA to BBB- from BBB, along with its short-term corporate credit rating to A-3 from A-2.

The agency also said it lowered the rating on the company's senior unsecured debt to BBB- from BBB.

The outlook is stable.

The downgrades reflect a belief that Alstom's end markets will remain soft in the next few years, S&P said.

This will temper Alstom's earnings and ability to improve its credit measures materially from levels posted in the past two years, the agency said.

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