Martin Marietta Corp’s Martin Marietta Technologies Inc unit has fared ill from a review by Moody’s Investors Service Inc, which downgraded the unit’s guaranteed senior debt to A3 from A2 and shelf registration rating to (P) A3 from (P) A2. Moody’s said the downgrade reflects the rating agency’s expectation that Martin Marietta Corp is likely to make sizeable, largely debt-funded acquisitions at an accelerated pace due to the consolidation of the defence industry; some $1,300m of debt is affected.
