Moody's confirms Asia Aluminum

Moody's Investors Service said it confirmed the B1 corporate family rating and senior unsecured bond rating of Asia Aluminum Holdings Ltd., concluding the review for possible downgrade that began in February.

The outlook is stable.

This action follows the company's filing of its interim results ended December 2006 with its trustee within the 30-day grace period, Moody's said it said. This has mitigated the risk of breaching the bond indenture - a situation arising after it failed to file the information within 45 days after the end of its second financial quarter, which could have triggered an event of default, the agency said.

The interim results were in line with expectations and the company's overall financial profile remains consistent with its current rating level, Moody's said it said.

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