Fitch downgrades Alcoa to BB+ on global oversupply
Apr 14, 2014 | 01:52 PM
| Daniel Fitzgerald
NEW YORK Fitch Ratings Inc. has downgraded Alcoa Inc.s credit rating to BB+ from BBB, noting that profitability in the primary aluminum market has been "hampered by global oversupply."
The Pittsburgh-based aluminum producer last week posted a first-quarter net loss of $178 million on low aluminum prices and costs related to plant closures (amm.com, April 8). The company also alluded to the possibility of further production cuts at loss-making facilities....
To access AMM's full content, please log in below. If you do not have an AMM account, we invite you to take a free trial or subscribe below.
Already a registered amm.com user?
Access to amm.com editorial content is granted only to paid subscribers and trialists. If you do not have an active account in your own name, please either subscribe or take a trial and you will have instant access to amm.com content. Sharing your login credentials with individuals who are not subscribers represents a violation of AMM copyright.
Every morning, every minute no matter how often you follow the markets, there's an AMM subscription to fit your needs.
Not sure if you are ready to invest in a subscription right now? Take a free, no-obligation trial. Start your free trial today.