Moody's lowers Veolia Environnement notes to Baa1

Moody's Investors Service said it downgraded the senior unsecured ratings of Veolia Environnement SA to Baa1 from A3. Moody's also affirmed Veolia's Prime-2 senior unsecured rating.

"Today's rating action reflects increased pressure on Veolia's earnings and cash flows from a combination of a weak operating environment, the costs of restructuring the group and its commitment to a dividend payout of €0.70 per share in 2012 and 2013," Moody's senior vice president and lead analyst for Veolia Niel Bisset said in a news release.

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