Moody's might cut Ceske drahy

Moody's Investors Service said it placed the Baa2 long-term issuer and senior unsecured ratings of Ceske drahy, AS on review for downgrade.

Moody's said the review for downgrade reflects the risk that Ceske drahy credit profile, as embedded in the current baseline credit assessment of ba2, may no longer be sufficiently robust to support the Baa2 ratings, as Moody's expects the company's operating performance for the full year 2013 to be weaker than it had previously forecasted and to be reflected in a weaker-than-expected financial profile.

The agency also noted that Ceske drahy has not yet finalized the negotiation of the sale of its stations to the Czech infrastructure manager, which was due to take place during 2013.

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