Moody's: Wise Metals cut to negative

Moody's Investors Service said it changed its outlook for Wise Metals Group LLC to negative from stable.

Moody's also affirmed Wise Metals' B2 rated 10 ¼% senior secured notes due 2012, B2 senior implied rating, Caa1 issuer rating and SGL-4 speculative grade liquidity rating.

Moody's said the negative outlook reflects the company's reduced liquidity, its inability to capitalize on stronger demand and higher prices for aluminum beverage can stock in terms of operating income and cash flow and a marked increase in debt.

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