Moody's cuts Asia Aluminum to B2

Moody's Investors Service said it downgraded to B2 from B1 the corporate family rating and to B3 from B2 the senior unsecured bond ratings of Asia Aluminum Holdings Ltd.'s

The outlook remains negative.

The action reflects a concern over the potential weakening in the company's operating performance in view of the softening in demand for its products, the consequence of the sharp decline in economic activity, Moody's said.

The tightening credit environment also pressures its liquidity profile, the agency added.

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