Fitch gives Alcoa notes investment-grade rating

Fitch ratings on Tuesday gave aluminum manufacturer Alcoa Inc.'s $1 billion in 10-year senior notes an investment-grade rating on Tuesday.The 6.15 percent senior unsecured notes are due Aug. 15, 2020.Fitch gave the notes a "BBB-" rating, an investment-grade rating that indicates expectations of...

Fitch ratings on Tuesday gave aluminum manufacturer Alcoa Inc.'s $1 billion in 10-year senior notes an investment-grade rating on Tuesday.

The 6.15 percent senior unsecured notes are due Aug. 15, 2020.

Fitch gave the notes a "BBB-" rating, an investment-grade rating that indicates expectations of default risk are currently low.

Fitch's rating outlook remains "Negative," reflecting "limited earnings visibility and pressures on the aluminum market from growing high inventories and persistent surplus production."

Shares fell 4 cents to $11.19 during midday trading.

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