Credit rating agency Moody’s cut to Baa3 from Baa2 the long-term ratings on cement producer Italcementi, Italcementi Finance and its French subsidiary Ciments Francais.
The credit rating agency kept the "stable" outlook and cut the short-term ratings to P-3, Moody’s said. Moody’s explained the cut with weaker than expected performance of the group so far in 2010.
