Moody’s might cut Elementia

Moody’s Investors Service said it placed Elementia SAB de CV's Ba2 corporate family rating on review for downgrade.

The action follows the company's announcement on April 4 related to its plan to spin-off the metals and building systems divisions and to maintain only the cement operations at the existing company Elementia, the agency said.

“The spin-off will reduce Elementia's asset base as well as its geographic and product diversification, increasing its credit risk,” Moody’s said in a news release.

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