One Down, Two to Go for Alcoa as S&P Signals No Junk for Arconic
- S&P affirms Alcoa at BBB-, ratings to be transfered to Arconic
- Rating decision follows Alcoa Inc.’s bond sale announcement
This article is for subscribers only.
For Alcoa Inc. Chief Executive Officer Klaus Kleinfeld, it’s a case of one down and two to go.
On Tuesday, S&P Global Ratings affirmed Alcoa Inc. at BBB-, the lowest investment grade credit rating, as the company prepares to split into separate upstream and downstream companies to be called Alcoa Corp. and Arconic, respectively.