FRANKFURT, Germany—Ratings agency Moody’s Investors Service has downgraded Marconi plc to Ca from B2 in its unsecured bond, while the company’s senior implied rating dropped to Caa3 from B1.
“The rating action reflects Marconi’s extremely weak liquidity profile, uncertainty regarding the company’s funding horizon from existing cash balances and expectations that trading difficulties will continue to hamper the company’s ability to strengthen operational cash flow,” said the agency in a statement.
