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Technicolor: Moody's downgrades credit rating

(CercleFinance.com) - The Technicolor stock is down 5.
2% today, the worst performer in the SBF120, penalised by Moody's downgrading its credit rating for the group from "Ba3" to "B1," again coupled with a "negative" outlook.

Moody's justifies its decision by the publication of weaker-than-expected 2017 results, and its vision that the group will not be able to restore its credit parameters to levels that would merit a "Ba3" rating over the next two to three years.

It also points to Technicolor's recent decision to divest its patent licensing business, a decision that "will significantly impact profitability and result in a lower generation of free cash flow" than previously anticipated.

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