02 December 2013 17:13 [Source: ICIS news]
LONDON (ICIS)--Deutsche Bank has downgraded its rating on the stock of specialty chemicals producer LANXESS from 'buy' to 'hold' citing the struggle the company will face to achieve planned price rises, the bank said on Monday.
At the beginning of November, Fitch Ratings said synthetic rubber manufacturer LANXESS was one of the few major European companies most vulnerable to either slowing growth or rapid currency devaluation in emerging markets and noted that there is little visibility as to when demand and prices might recover in the Asian tyre sector.
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