Moody's reviews Vulcan

Moody's Investors Service said it placed Vulcan Materials Co.'s A3 senior unsecured rating under review for downgrade. Vulcan's P-2 commercial paper rating was affirmed.

The review was prompted by Vulcan's weaker-than-expected operating performance, inability to reduce financial leverage at the pace anticipated and its tight liquidity profile, according to the agency.

The review will focus on the company's ability to implement price increases and cut costs to mitigate volume declines and apply cash flow toward debt reduction, the agency noted.

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