Alcoa May Be Cut to Junk by Moody’s on Lower Aluminum
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Alcoa Inc., the largest U.S. aluminum producer, may have its credit rating cut to junk by Moody’s Investors Service Inc. after the price of the metal slumped.
Moody’s placed Alcoa’s Baa3 senior unsecured rating, the lowest investment-grade level, under review for downgrade, the ratings company said today in a statement. The review applies to all of Alcoa’s $8.3 billion of debt, according to the statement.