S&P: Wise Metals view negative

Standard & Poor's said it revised the outlook on Wise Metals Group LLC to negative from developing and affirmed its CCC corporate credit rating.

"The outlook revision reflects our increased concern regarding Wise Metal's thin liquidity position given our expectation that the company's operating performance will remain challenged in the near term due to weak economic conditions resulting in lower end-market demand," S&P analyst Maurice Austin said in a statement.

The CCC ratings reflect Wise's participation in a mature and consolidated industry, limited operating diversity, customer concentration risk, negative operating margins, thin liquidity and aggressive financial leverage, the agency said.

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