Alcoa ratings downgraded to 'BB+' from 'BBB-' by Fitch Fitch Ratings has downgraded the ratings for Alcoa, including its Issuer Default Rating and senior unsecured debt, to 'BB+' from 'BBB-'. The Rating Outlook is Stable.
Aluminum prices decline on excess supply, Bloomberg says Aluminum prices have been under pressure as prices for the metal fell 9.4% in May in the largest monthly drop since October 2012, says Bloomberg. According to the Bloomberg report aluminum producers in China have been encouraged by cheap coal to operate their furnaces and may expand exports. Companies in the aluminum space include Alcoa (AA) and Century Aluminum (CENX). Reference Link