Moody's cuts Amcor view to negative

Moody's Investors Service said it affirmed the Baa2, prime-2 issuer, senior unsecured and short-term commercial paper ratings of Amcor Ltd.

The outlook has been changed to negative from stable, reflecting concerns about a considerable weakening in several of the company's key markets, Moody's said.

The outlook change also reflects concerns that weak key markets could lead to a sustained weakening in the company's financial profile, Moody's said. The Baa2 rating has limited cushion to absorb such downside risk, the agency added.

The ratings continue to benefit from its extensive global asset base, enormous scale and diversification, Moody's said.

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