S&P: ALBA Group view negative

Standard & Poor's said it revised its outlook on ALBA Group plc & Co. KG to negative from stable.

At the same time, the agency affirmed its long-term corporate credit rating on ALBA Group at BB- and its B issue rating the company's €203 million unsecured notes due in 2018. The recovery rating on the unsecured notes is unchanged at 6.

S&P said the outlook revision reflects its view of the continued deterioration in ALBA Group's business environment, caused by a significant fall in demand for both ferrous and nonferrous scrap along with the high volatility in the selling prices of this scrap.

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