Alcoa reacts to Moody’s downgrade
May 30, 2013 | 10:04 AM
| Michael Cowden
CHICAGO Alcoa Inc. is "disappointed" with ratings agency Moodys Investors Service Inc.s decision May 29 to downgrade approximately $6.8 billion in company debt.
The New York-based integrated aluminum company said it had a strong balance sheet and liquidity position, as well as limited near-term bond maturities.
"We believe Moodys decision is a greater reflection of macroeconomic conditions and the volatility of metal prices than a true statement of the financial and operating strength of Alcoa," the company said.....
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