Moody’s shifts Votorantim Cimentos view to negative

Moody’s Investors Service said it revised the outlook for Votorantim Cimentos SA to negative from positive and affirmed the ratings on the company and the senior unsecured notes issued by St. Marys Cement Inc. and Votorantim Cimentos International SA.

“The change in outlook to negative was prompted by the sharp decline in revenues expected for 2020 as a result of lower demand and lower profitability scenario for cement, the main products in its portfolio. From a regionally contained outbreak the virus has rapidly spread to many different regions denting the demand for cement globally,” said Moody’s in a press release.

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