Moody's lowers Greenbrier

Moody's Investors Service said it has lowered the debt ratings of the Greenbrier Cos.; the corporate family rating was downgraded to B3 from B1.

Greenbrier's speculative-grade liquidity rating was also changed to SGL-4 from SGL-3, the agency added.

The outlook is negative.

According to Moody's, the lower ratings primarily reflect a weakening in Greenbrier's credit metrics, as rapid industry-wide deterioration in rail car demand is expected to negatively impact the company's financial performance, its rail car manufacturing segment in particular.

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