Moody's could cut Akzo Nobel

Moody's Investors Service said it placed Baa1/P-2 ratings of Akzo Nobel NV under review for downgrade.

Moody's said the review for downgrade follows disappointing results recorded by Akzo Nobel in the period to Sept. 30 which came below Moody's expectations for the year.

This was due in particular to a significant underperformance of the Decorative Paints division and was reflected by the announcement by Akzo Nobel of a €2.5 billion write off in that division pointing towards the company's expectation of continuous challenging operating conditions in this segment, particularly in Europe, the agency said.

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