Fitch rates Alcoa Nederland notes BB+

Fitch Ratings said it gave a BB+/RR4 rating to Alcoa Nederland Holding BV's proposed senior unsecured notes. The notes are guaranteed by Alcoa Corp.

“The rating reflects Alcoa's modest leverage, leading positions in bauxite, alumina and aluminum, strong control over costs and spending and flexibility afforded by the scope of its operations,” the agency said in a press release.

Proceeds are to be used to fund pension obligations and repay debt.

The outlook is stable.

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