Moody's lowers CE Wood

Moody's Investors Service said it downgraded CE Wood's long-term national scale corporate family rating to Ba1.cz from Baa3.cz.

The outlook is negative.

According to Moody's, the downgrade reflects ongoing pressure on the company's financial performance and credit protection metrics, negative free cash flow generation in the past four fiscal periods and its aggressive approach to liquidity management.

The negative rating outlook reflects CE Wood's constrained liquidity profile, the agency said.

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