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Fitch Downgrades Alcoa Aluminio's IDRs to 'BBB-'; Withdraws Ratings.

Publication: Business Wire
Publication Date: 20-FEB-09
Format: Online
Delivery: Immediate Online Access

Article Excerpt
CHICAGO -- Fitch Ratings has downgraded and simultaneously withdrawn the following ratings for Alcoa Aluminio S.A. (Aluminio):

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

--Foreign currency IDR to 'BBB-' from 'BBB';

--National scale rating to 'AA+(bra)' from 'AAA(bra)'.

These downgrades reflect Aluminio's increased leverage amidst challenging market conditions....

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