Moody’s downgrades credit outlook for industry

Moody’s has downgraded its credit outlook for the chemical industry in the North America; and the Europe, Mideast, and Africa regions, the ratings service says. The outlook has been downgraded to negative from stable because of weak economic growth in the United States, slowing growth in developing nations, and recession in Europe, Moody’s says. “The outlook reflects Moody’s expectation that profitability in the industry will decline in the next 12–18 months,” the ratings service says. The outlook could be raised back to stable...

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