FRANKFURT, Germany-Moody’s Investors Service has downgraded French vendor Alcatel’s senior debt ratings to B1 from Ba1, reflecting the company’s dwindling revenue flow, the need to downsize and lack of financial flexibility.
“The negative rating outlook, however, reflects Moody’s view that, with no indication yet of a slowdown in the rate of revenue decline currently exceeding 30 percent, further rating downgrades would be appropriate if the slide were to continue unabatedly,” said the rating agency in a press release.
