DBRS: Alcoa view to negative

DBRS said it changed the trend to negative from stable on the BBB issuer rating and senior unsecured debt rating of Alcoa Inc.

The change in trend reflects the weakening of alumina and aluminum prices, which have rendered Alcoa's financial metrics poor for its current rating levels, DBRS said.

In addition, the company's net indebtedness has grown in the first half of 2013, the agency said.

DBRS said it expects Alcoa will be challenged to stabilize, let alone improve, its financial metrics with the general weakness in world commodity markets.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.