Alumina's 1 bln aud MTN program rated 'A-' - S&P |
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Published
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Thu, 15 Nov 2007 06:13
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MUMBAI (Thomson Financial) - Standard & Poor's Ratings Services assigned its 'A-' long-term rating to Alumina Ltd's 1 bln aud medium-term-note (MTN) program.Proceeds will go to repay short-term bank loan facilities and provide additional funding diversification.The 'A-' corporate credit rating on Alumina reflects the company's moderately conservative financial policies and stable dividend flow from its 40 pct ownership of Alcoa World Alumina and Chemicals (AWAC), S&P said.The other 60 pct of AWAC is owned by Alcoa Inc.TFN.newsdesk@thomson.comjroCOPYRIGHTCopyright Thomson Financial News Limited 2007. All rights reserved.The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
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