Ferro ( FOE) shares fell Tuesday after Moody's Investor Service withdrew its ratings on the metals company, citing delays in financial filings. New York-based Moody's downgraded Ferro's senior unsecured ratings to B1 from Ba1. Moody's downgrade will trigger a springing lien in certain of the company's assets under its revolving credit agreement and senior notes and debentures, Cleveland-based Ferro said. Ferro said it expects to have continued access to sufficient liquidity to fund its operations, though its borrowing costs are likely to increase. Moody's said it could rate Ferro's notes and bonds again once the company has filed audited financials for 2004 and 2005. "We are surprised and disappointed in the action taken by Moody's," the company said. "The company continues to expect to complete and file its 2004 Annual Report on Form 10-K by March 31." Ferro fell 52 cents to $19.53.