Debt refinancing pushes Century deeper into red in third-quarter '04

Oct 29, 2004 | 08:40 AM |

Century Aluminum Co. recorded a third-quarter net loss of $16.1 million, nearly three times the $5.9-million loss posted in the year-earlier quarter, despite a nearly sixfold increase in operating income.

Century, based in Monterey, Calif., attributed the loss to a one-time after-tax charge of $30.6 million for refinancing debt. The company said the refinancing lowered its borrowing rate from 11.75 percent to slightly more than 5 percent.....

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