Alcoa downgraded on weak fundamentals

摘要

Low aluminium prices and a persistent overhang in supply and inventories drove Moody’s Investors Service to downgrade Alcoa to a non-investment grade rating on 29 May, concluding the review it began on 18 December. The decision reflects overall weakness in aluminium market fundamentals rather than Alcoa’s financial and operating strength and its specific business strategy, which it will continue to execute, Alcoa said.