Fitch boosts Alcoa Aluminio

Fitch Ratings said it upgraded the foreign currency rating of the secured exports notes issued by Alcoa Aluminio SA to BBB from BBB-.

Fitch said it also upgraded Aluminio's foreign currency rating to BB+ from BB- and the company's national scale rating to AA+(bra) from AA(bra). The outlook is stable.

The agency said the upgrades reflect the improvement in the company's credit profile and the increasing strategic importance of Aluminio to its parent company Alcoa Inc.

Fitch said its upgrade of Aluminio's foreign currency rating above the BB- rating of the Brazilian government reflects the company's strong liquidity.

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