Moody's may cut Abitibi-Consolidated

Moody's Investors Service said it placed Abitibi-Consolidated Inc.'s Ba3 long-term debt ratings on review for possible downgrade. Abitibi-Consolidated Inc.'s speculative grade liquidity rating was upgraded to SGL-3 from SGL-4.

The rating action was prompted by the company's continuing difficulty in generating significant earnings from operations, Moody's said.

Given the very difficult market conditions facing the company, Moody's said uncertainty as to when significant earnings improvement can be expected also prompted the review.

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