S&P affirms Chalco

Standard & Poor's said it affirmed the BBB+ foreign-currency long-term corporate credit rating on Aluminum Corp. of China Ltd. (Chalco), along with its cnA+/-- Great China credit scale rating.

The outlook is negative.

The ratings reflect an expectation that the company's financial performance will improve in the second half of 2011, S&P said.

That view is based on higher aluminum prices and stronger end-market demand over this period, the agency said.

Nevertheless, S&P said it is uncertain about the sustainability of Chalco's financial performance in 2012, given the current volatility in the global economy.

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