Fitch assigns Kaiser Aluminum BB

Fitch Ratings said it assigned Kaiser Aluminum Corp. a first time BB long-term issuer default rating. The outlook is negative. In addition, Fitch assigned a BBB-/RR1 rating to the asset backed lending credit facility and BB/RR4 rating to the unsecured notes.

“Kaiser's ratings reflect its solid business model, including its focus on products with demanding applications and higher barriers to entry, and its ability to pass through metal prices to customers for the majority of its products, partially offset by its concentration in cyclical end markets,” said the agency in a press release.

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