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05/06/2013 - 15:24

Alcoa cops ratings downgrade

05/06/2013 - 15:24

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The persistent weak global aluminium market has resulted in Alcoa's Australian arm being hit with a ratings downgrade.Ratings agency Moody's lowered Alcoa of Australia's rating to Baa2 from Baa1.Such downgrades increase a company's risk profile and borrowing costs.

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