Moody’s revises SKF to negative

Moody's Investors Service said it changed the outlook on the Baa1 senior unsecured ratings of SKF AB to negative from stable.

Concurrently, the agency affirmed these ratings.

"Our decision to change the outlook on SKF's Baa1 ratings to negative reflects the increasing risk that in next 12-18 months the company's credit metrics, in particular its currently weak leverage and debt coverage ratios, will not bounce back to levels expected for a Baa1 rating," Martin Fujerik, Moody's lead analyst for SKF, said in a news release.

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