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Fitch Affirms Alcoa Aluminio's IDRs at 'BBB'; Removes Rating Watch Negative.

Publication: Business Wire
Publication Date: 02-AUG-07
Format: Online
Delivery: Immediate Online Access

Article Excerpt
NEW YORK -- Fitch Ratings has affirmed and removed from Rating Watch Negative the following ratings for Alcoa Aluminio S.A. (Aluminio):

--Local currency Issuer Default Rating (IDR) 'BBB';

--Foreign currency Issuer Default Rating (IDR) 'BBB';

--National scale rating 'AAA(bra)';

--Series 1996-1 secured export notes (SENs) due 2008 'BBB'.

The Rating Outlook for Aluminio's corporate ratings is Stable.

The ratings affirmation follows the withdrawal by Aluminio's parent company, Alcoa Inc. (Alcoa), of its offer to acquire Canadian aluminum...

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