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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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