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Prospect News home > News index > List of issuers A > Headlines for Asia Aluminum Holdings Ltd. > News item
Published on 7/5/2006 in the Prospect News Emerging Markets Daily and Prospect News High Yield Daily.

S&P lowers Asia Aluminum

Standard & Poor's said it lowered its long-term corporate credit rating on Asia Aluminum Holdings Ltd. to BB- from BB.

At the same time, it lowered its issue rating on $450 million in senior unsecured notes due 2011 to BB- from BB.

The ratings were removed from CreditWatch, where they had been placed with negative implications on Feb. 8, S&P said.

The outlook is negative.

The agency added that the downgrade reflects Asia Aluminum's weakened credit protection ratios on a pro-forma consolidated basis due to an LBO of shareholders by AA Investments Co. Ltd.


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