FRANKFURT (Thomson Financial) – Fitch Ratings is a long-term Issuer default rating (IDR) of Pfleiderer AG to ‘B-‘ from ‘B’ reduced. As Fitch announced on Wednesday, is the assessment on the Watch list and may be reduced further. Also for the Short-term rating of "B" will be assessed a demotion.
In the view of Fitch, the credit quality of Pfleiderer suffers from the increased indebtedness and a tight financial situation. So profitability and cash flow in 2009 were significantly weaker than expected.
Website: www.fitchratings.com DJG / kla / rio Visit our website http://www.dowjones.de
(END) Dow Jones Newswires
March 24, 2010 08:53 ET (12:53 GMT)
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