A historic collapse in the stock recorded the OHL 24% Wednesday, from construction to 2.11 euros per share, reported Spanish media today.
This occurs after you have downloaded a step the note that you have assigned, from ‘B3′ to ‘B2′, which thus leaves the qualification ‘junk bond’ (below Baa3) . The agency explained that this reduction is due to cash flow problems and the high level of debt that presents the company.
Moody’s also assigned a negative outlook, which predicted that in the future could carry out a further downgrade.
The Spanish daily notes that in three sessions OHL has lost 36.6% in the stock market, and indicates that the company has accumulated a devaluation of more than 50% since the beginning of the year.
The construction and engineering group reduced its profit 94.3%, to 3 million euros.
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