Tag Archives: downgrade

Moody’s puts Alcoa ratings on review

UPDATE: Alcoa issued a statement saying it is committed to its investment grade rating and is “in a stronger financial position than four years ago.” The company’s full statement is copied below.

Alcoa Inc. shares were down nearly 3 percent in morning trading today after Moody’s Investors

ALCOA

ALCOA

Service on Tuesday put the aluminum company on review for a downgrade.

Moody’s cited a nearly 22 percent drop in aluminum prices, according to an Associated Press report.

Alcoa has a manufacturing operation in Blount County that produces aluminum for beverage cans.

 

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Warren Buffett says S&P was wrong

With the markets plunging one day and soaring the next, the voices of doom are everywhere.

Economy+Leaders.jpgFor a calmer view of the economy, check out Fortune’s interview with Warren Buffett.

Among other things, the Oracle of Omaha says Standard & Poor’s downgrade of U.S. debt was wrong and he isn’t worried about another economic downtown — not yet.

Fortune: Buffett: The lower stocks go, the more I buy