Moody’s changes Forterra to negative

Moody's Investors Service said it affirmed Forterra Finance, LLC's B1 corporate family rating and changed the outlook to negative from stable.

Moody’s said the outlook change reflects Forterra’s disappointing operating performance over the first quarter of 2017 with a corresponding negative effect on the company's key credit metrics and liquidity profile.

The agency expects Forterra will face a challenging 2017 in order to improve its overall credit condition as the company deals with integrating its newly acquired assets while maintaining healthy organic growth from its legacy businesses.

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