15.01.2014 19:19:00

Moody's downgrades Euro Freight Car Finance's lease ABS notes to Ba1(sf)

London, 15 January 2014 -- Moody's Investors Service has today downgraded by one notch the notes issued by Euro Freight Car Finance S.A. to Ba1(sf) from Baa3(sf). Today's rating action reflects (1) the continuous deterioration of the fleet utilisation rate since the closing date in 2006; (2) the uncertainty around the future level of fleet utilisation; and (3) the limited growth potential of the rail freight sector in Europe, in the near to medium term.

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